Cybersecurity & Fraud Prevention – Two Sides of The Same Coin?

The 1930s in America marked an era of violent bank robberies and deadly shootouts. But are legendary characters such as John Dillinger, Pretty Boy Floyd and Baby Face Nelson so different from the hackers of today? Modern criminals use their technical expertise to accomplish the same outcome as their earlier counterparts, but unlike the lone wolves of the 1930s, cybercrime has become big business. Similarly, those trying to catch criminals have had to evolve with technological and environmental changes. Whilst criminal profiling was first used in the 1880’s with Jack the Ripper, until recent decades, it mostly relied on the intuition of profilers and informal studies. Since behavioural science emerged in the 1970s, technological advancements, such as machine learning and behavioural analysis, have made it much cheaper and faster to counter criminal in the modern age. As we become increasingly digital, connected, and regulated, fraud prevention is rapidly becoming indistinguishable from cyber security. Can businesses take advantage of these innovations whilst still deriving real business value?