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Do you Zelle? Fraud Risks to Consider When Moving to Faster Payments with Zelle

Zelle is awesome! The highly innovative P2P scheme allows people to pay in real-time from their bank account to any of their contacts. It’s easy to use, super-fast and extremely convenient.

Unfortunately, it’s also heavily targeted by fraud.

Cyber criminals are already staging massive Zelle fraud campaigns using a clever mix of social engineering and technical infrastructure. Risk teams realize that stopping real-time fraud is a different ball game, and many banks report a high-paced adaptive race with crime rings that quickly respond to new controls.

Learn about the various types of Zelle deployments, the current fraud landscape, and what the industry is doing to defend itself. Whether you host your own Zelle pages, use a third party vendor to fulfill the payments or plan to launch Zelle next year, this webinar is for you!
Recorded Jan 15 2020 63 mins
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Presented by
Uri Rivner, Chief Cyber Officer, BioCatch
Presentation preview: Do you Zelle? Fraud Risks to Consider When Moving to Faster Payments with Zelle

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  • Workplace Distancing: Adapting Fraud Operations to COVID-19 Recorded: May 5 2020 58 mins
    Julie Conroy, Research Director, Aite Group & Ayelet Biger-Levin, Vice President Market Strategy, BioCatch
    Within a remarkably short period of time, COVID-19 has dramatically altered the way in which the global population works, transacts, and interacts. The ability to quickly build a remote-enabled workforce and adhere to social distancing requirements has necessitated a rapid adjustment for how fraud and AML teams work. For financial services firms, the problem is even more profound as they prepare to support the increase in consumer transactions and manage the expected increase in fraud that comes along with it. In this webinar, Julie Conroy, Research Director, Aite Group, will present best practices and lessons learned from financial services firms adjusting to operations with a largely remote workforce and the effect on fraud management. Ayelet Biger-Levin, VP of Market Strategy, BioCatch, will provide guidance on strategies that can be used to automate fraud operations and protect digital channels.
  • Do you Zelle? Fraud Risks to Consider When Moving to Faster Payments with Zelle Recorded: Jan 15 2020 63 mins
    Uri Rivner, Chief Cyber Officer, BioCatch
    Zelle is awesome! The highly innovative P2P scheme allows people to pay in real-time from their bank account to any of their contacts. It’s easy to use, super-fast and extremely convenient.

    Unfortunately, it’s also heavily targeted by fraud.

    Cyber criminals are already staging massive Zelle fraud campaigns using a clever mix of social engineering and technical infrastructure. Risk teams realize that stopping real-time fraud is a different ball game, and many banks report a high-paced adaptive race with crime rings that quickly respond to new controls.

    Learn about the various types of Zelle deployments, the current fraud landscape, and what the industry is doing to defend itself. Whether you host your own Zelle pages, use a third party vendor to fulfill the payments or plan to launch Zelle next year, this webinar is for you!
  • Critical Capabilities to Secure the Future of Money & Insights from Money 20/20 Recorded: Dec 3 2019 54 mins
    Gareth Campbell, Head of Threat Analytics & Ayelet Biger-Levin, VP
    Digital transformation has introduced ​exponential opportunity in the financial space. The way we manage our money online (via banking, money transfers and shopping) has changed dramatically. We have moved away from a one-time, occasional transaction with a merchant, requiring several steps to checkout, to a continuous, connected relationship and quick, instant checkout. Digital identity has evolved into an essential part of the modern money lifecycle, bringing into the mix issues of securing personal data, privacy and more. At the same time, data breaches and phishing attacks have created an abundance of stolen credentials, turning identities into the most consequential attack vector in the financial world. During this webinar, Ayelet Biger-Levin, VP, and Gareth Campbell, Head of Threat Analytics, will discuss how BioCatch enables the future of money by providing a secure and frictionless user experience across multiple use cases such as account opening, login and payments.
  • Combating New Account Fraud with Behavioral Biometrics Recorded: Oct 23 2019 62 mins
    Julie Conroy, Research Director, Aite Group & Uri Rivner, Chief Cyber Officer, BioCatch
    New account fraud continues to grow at a rapid pace, threatening new digital banking business models and fintech platforms such as Zelle, that are in a customer acquisition race. Convenience, speed and ease of use make digital the preferred channel for consumers, but also open the door for criminals. With 14.7 billion personal records stolen in the last 6 years and the proliferation of synthetic identities making it very difficult to tell the difference between a legitimate applicant and one that will result in loss, new models for identity verification are starting to emerge, with behavioral biometrics as a key component.

    Join Aite Group Research Director, Julie Conroy, and BioCatch Chief Cyber Officer, Uri Rivner, for a lively discussion, as they examine how fraudsters exploit the account opening process and provide insights into how behavioral biometrics are woven into technical workflows and operational models to drive higher rates of conversion without compromising risk and security.
  • Out With KBA; In with New Digital Identity Guidelines for the US Government Recorded: Jun 24 2019 32 mins
    Patrick Hearn, CEO, Endeavor Worldwide & Frances Zelazny, Chief Strategy & Marketing Officer, BioCatch
    The newest report issued by the U.S. General Accounting Office (GAO), Federal Agencies Need to Strengthen Online Identity Verification Processes, calls for an overhaul and updated guidelines on identity proofing, highlighting the availability of data stolen in various data breaches over the years in the hands of attackers and fraudsters. Already, the National Institute of Standards and Technology (NIST) has issued guidance in 2017 that effectively prohibits agencies from using Knowledge-Based Authentication (KBA) methods for sensitive applications. Now, the GAO is going one step further, recommending that all agencies discontinue the use of KBA and highlights various alternatives for consideration. The outcome may have far-reaching implications not just for federal agencies but across the board for all private entities that conduct identity verification and authentication to provide digital products and services.
    Join industry veterans Patrick Hearn and Frances Zelazny next Monday, for a short, 30-minute debrief on this latest GAO report and what it means for you.
  • Understanding Your Client’s Digital Identity Recorded: Jun 13 2019 63 mins
    Frances Zelazny, BioCatch & Ben Goodman, ForgeRock
    Identity is everything on the internet. Every authentication hurdle online users need to jump through, such as two-factor authentication and passwords, is aimed at one goal – verifying the identity of the user. Digital identity has never been as important as it is now and will only continue to grow in importance as digital transformation takes hold.

    Technologies like behavioral biometrics are emerging to provide authentication in a way that does not disrupt the user experience, but to implement these technologies effectively, requires a strong policy and rule engine that eases the implementation and ramp up.

    Join BioCatch’s Frances Zelazny and ForgeRock’s Ben Goodman, two well-known business strategists in this space as they explore how different technologies and platforms come together to create a full risk-based authentication solution that minimizes friction for users and provides strong security and compliance for enterprises. They will explore how the digital identity landscape has evolved, what current enterprises are doing to fight fraud and what the best practices are in creating a great customer journey across the digital lifecycle.

    In this webinar, viewers can expect to learn:
    •How digital identity has evolved into what it is today – and where it is going
    •How top enterprises are deploying new and emerging technologies and combining different capabilities to manage risk and convenience for the customer
    •The advantages of continuous authentication over traditional static authentication
    •How to easily add and implement new digital identity solutions
  • One-time Passwords: What are the Alternatives? Recorded: May 6 2019 63 mins
    Sherif Samy, SVP North America, Entersekt & Uri Rivner, Chief Cyber Officer, Co-Founder, BioCatch
    One-time passwords (OTP) remain one of the most widely used forms of two-factor authentication, despite their well-documented vulnerabilities. Earlier this year, a major UK bank was hit by an attack in which fraudsters diverted text messages from legitimate customers’ phones in order to bypass two-factor authentication and access accounts.

    While this attack worked through a hole in telco network protocols, more common ways to bypass OTP-based security include porting a mobile number to a new SIM card through social engineering at the network operator, adding a new phone number to a bank account by impersonation on a call to the bank, mobile malware, and a host of man-in-the-middle attacks.

    Besides the fraud, users find OTPs extremely cumbersome, seriously hindering banks’ efforts to craft exceptional user experiences on the mobile and online channels. Yet, customer experience is most important differentiator to attract new users and improve customer loyalty.

    Convenience, simplicity and speed are the new standard. So where does that leave OTPs and what are the alternatives?

    Join Karen Webster, Managing Editor of PYMNTS.com, on May 6 at 11:00 EDT as she talks to Sherif Samy, SVP North America at, Entersekt, and Uri Rivner, Chief Cyber Officer of BioCatch, about on the real cost of OTPs, in fraud and user friction. We will also explore winning mobile alternatives to OTPs, like behavioral biometrics coupled with advanced mobile app security.
  • Vishing and the Rise of Authorised Push Payment Fraud Recorded: Feb 27 2019 57 mins
    Uri Rivner, Chief Cyber Officer, Co-Founder, BioCatch
    Vishing costs British banking customers millions of pounds every year and has become the fastest growing scam in the United Kingdom, but the risk is not limited to that country. In a typical vishing fraud case, the criminal dupes his/her victims into performing financial transactions. For example, a fraudster may call the victim disguised as a security official from his or her bank and, after establishing trust, coerce the victim into transferring funds from his or her account into the scammer’s account as a ‘security measure.’ This voice-based, social engineering crime is only growing in popularity and is set to cost banking customers even more money in the coming years.

    Join us on February 27th at 11 AM as Uri Rivner, cybersecurity veteran and Head of Cyber Strategy for BioCatch as he examines why this con is growing so rapidly and discusses how BioCatch’s newest offering combats the rising vishing epidemic. Using patented, advanced data science and AI techniques, BioCatch analyzes the user’s online interactions in real time and generates powerful insights. Among these insights are indicators that suggest a person is conducting a transaction under the influence of a fraudster. Traditional fraud detection measures do not work in this instance – the real person is logging in from their own device at the correct location conducting a fully authorised transfer. Nonetheless, by analysing more than 2,000 potential behavioural parameters in real time that does not disrupt the user journey, BioCatch can discern whether or not a person is being directed by a fraudster.
  • 2019 Predictions - What to Expect from Cybercrime in the Coming Year Recorded: Dec 12 2018 59 mins
    Uri Rivner, Chief Cyber Officer, BioCatch
    2018 seemed a dismal year for cybersecurity and identity. Massive data breaches, new forms of malware and increasingly sophisticated social engineering attacks hit businesses and consumers at a steady pace. This pace does not seem to be slowing down. Can we expect any better in 2019?

    In this webinar, BioCatch’s Chief Cyber Officer, Uri Rivner, will examine the top trends he sees happening in the industry in 2019. Uri has been fighting cybercrime for over 15 years, during which he lived through massive changes in the payments and banking industries. With faster payments now taking hold in Canada and the US, legislative changes coming to help thwart the rise of synthetic identity, large organizations making moves around passwordless authentication, artificial intelligence driving many more backend decision making processes and more, it is clear that 2019 will bring many new opportunities and challenges. Join us as Uri presents his predictions for what this means for financial institutions, global enterprises and digital identity at large.
  • A look at frictionless authentication Recorded: Nov 1 2018 62 mins
    Chris Ryan - Experian, Mike Gross - Experian, & Frances Zelazny - BioCatch
    The paradigm for identity risk management and authentication is changing. In the new paradigm, context and data available for a specific type of interaction must drive analytics. Instead of just looking for commonality, we need to make better use of data that is unique.

    - Consumer/business interactions vary widely in terms of the amount of data they provide to drive risk assessment.
    - The amount and range of data available to assess identity risk is now so rich and varied across interactions that the analytical approach must also change.

    Frictionless authentication: The “passive” use case focuses provides a completely frictionless experience for the end user, while thoroughly authenticating the user’s identity as a background process; usually requires a higher level of confidence driven by the transaction value.

    -Built around the use of passive authentication methods, especially behavioral biometrics(BioCatch), and device intelligence using Danal and FraudNet.
    - New, unique data and a new approach to analytics and machine learning to make informed identity decisions to the right level of confidence.
  • What Keeps a Bank's CFO Up at Night Recorded: Sep 20 2018 56 mins
    Leif Easterson, former CFO, Information Security and Risk Management, Citigroup
    Fraudsters are ever-evolving and constantly discovering new methods of stealing money from institutions worldwide. The drive to digital transformation is providing new opportunities for fraudsters to exploit businesses and consumers remotely. The losses from cybercrime continue to rise year-after-year with the number of cyber incidents targeting businesses nearly doubling between 2016 and 2017 according to the Online Trust Alliance. 2018 is not showing any reduction in these trends.

    How should businesses balance risk against Information Security costs and investments? What is the true ROI of fraud investments? Join us as Leif Easterson, former CFO, Information Security and Risk Management at Citigroup, examines these issues and more. Using experience from his days at Citigroup, where these were challenges that he faced on a daily basis, Leif will examine the true cost of fraud to financial institutions - both the actual fraud and the operational costs associated with fraud and risk managements. Additionally, BioCatch will be unveiling a new ROI calculator to help companies determine what the impact of next generation solutions like behavioral biometrics to the bottom line.
  • The Fast and the Fraudulent Recorded: Jul 19 2018 60 mins
    Iain Swaine, Head of Cyber Strategy, EMEA, BioCatch
    The world of payments is rapidly-changing. The rise of P2P payments in the U.S, Canada and Australia along with dramatic regulatory changes in Europe (PSD2), has created new opportunities across the ecosystem. New third-party payment providers (TPP​'​s) in the EU and P2P apps in other regions are entering th​e arena​​​ by supporting the rapid rise in demand and associated adoption rates. Banks are enabling direct access to accounts via APIs. Consumers now get to pick which apps they use, how they want to pay, and when, making the user experience paramount to win their loyalty. At the same time, however, the speed and “openness” makes the ecosystem vulnerable to several types of threats including malware, social engineering, remote access Trojans, SIM swapping, call forwarding and other techniques. Using these techniques, the fraudsters are able to exploit various points of potential weakness: at the account creation stage, the bank account linking process and payment authentication.

    Join us as Iain Swaine, explores this fast-changing landscape, leveraging real world experience that stems from his days as eCrime Fraud Prevention Manager of the Royal Bank of Scotland, which was on the front lines of the initial faster payments adoption in the UK, and his current work as Head of Cyber Strategy, EMEA at BioCatch. He will explain how fraudsters see the this new world, what some of their techniques are and some of the techniques that are being used by leading enterprises around the world to address the risks in the P2P and PSD2 ecosystems.
  • The Role of Applicant Behavior in Identity Proofing Recorded: Apr 25 2018 67 mins
    Uri Rivner, BioCatch & Al Pascual, Javelin Strategy & Research
    As account opening continues to transition from physical to digital channels, financial institutions, issuers, lenders, and other organizations must optimize the digital experience of applicants in order to compete. At the same time, fraud is on the rise as criminals have become more successful than ever, thanks to some of the same digital channel benefits enjoyed by consumers: convenience, speed, and ease of use.

    To achieve the necessary balance between preventing fraud and providing a delightful experience for consumers, an approach to identity proofing that accounts for the channel, product, customer, and threat environment is absolutely critical. But regardless of the approach, inconspicuous solutions — like those based on applicant behavior — have a distinct role to play in how institutions manage the risk of application fraud.
  • Building a Behavioral Biometrics Profile: Live Demo Recorded: Feb 9 2018 9 mins
    Daniel Shkedi, Product Marketing Manager & Frances Zelazny, Chief Strategy & Marketing Officer
    Watch a live demo of how BioCatch builds user profiles based on behavior to detect fraud in online apps.
  • Identity Proofing in the Age of Hacks Recorded: Dec 5 2017 58 mins
    Oren Kedem - Vice President, Product Management
    New account fraud is usually the gateway to many other criminal activities and is a growing concern for businesses that processes transactions online. Behavioral biometrics provides a new dimension to detect this type fraud by recognizing criminal behavior and being able to distinguish those behaviors from those of legitimate applicants, even if all the personal data entered into an online form is valid. Join us to learn how this is done.
  • The Evolution of Money and Biometrics Recorded: Nov 8 2017 56 mins
    Peter O'Neil, Bianca Lopes, Maxine Most & Frances Zelazny
    On November 8, 2017 FindBiometrics and Money20/20 presented the live webcast, "The Evolution of Money and Biometrics." Reporting on the heels of Money20/20, FindBiomerics President Peter O'Neill reviewed the biggest FinTech biometrics news out of the world’s premier financial conference, before handing the presentation to Maxine Most, Principal, Acuity Market Intelligence, who presented her firm's latest guidance. Acuity’s research set the stage for a dynamic discussion of biometrics and identity in the financial space featuring expert panelists: Bianca Lopes, Chief Identity Officer, BioConnect; Frances Zelazny, VP Marketing, BioCatch; and Sanjib Kalita, Chief Marketing Officer, Money20/20.
  • Reducing Insurance Fraud With Behavioral Biometrics Recorded: Oct 3 2017 60 mins
    Uri Rivner, Chief Cyber Officer and Co-Founder
    There are many faces of fraud in the insurance market - using stolen identities to obtain a new policy - or just as troubling, an account takeover to make a false claim or change payee information to receive claim funds. And when fraud hits, it hurts everyone in the pool. In fact, according to the Federal Bureau of Investigation (FBI), annual losses related to insurance fraud is approximately $40 billion, costing the average American family $400-$700 in increased premiums each year.
  • Uri Rivner on RSAC TV Recorded: Mar 7 2017 20 mins
    Uri Rivner
    Head of Cyber Strategy, Uri Rivner, spoke to RSAC TV about BioCatch and his talk at the conference.
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  • Title: Do you Zelle? Fraud Risks to Consider When Moving to Faster Payments with Zelle
  • Live at: Jan 15 2020 4:00 pm
  • Presented by: Uri Rivner, Chief Cyber Officer, BioCatch
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