Colossal Digital Financial Attacks – What to do

Presented by

Ralitsa Miteva & Greg Hancell, OneSpan

About this talk

As mobile banking use surges worldwide in response to COVID-19 and its associated lock-downs, a corresponding rise in mobile banking fraud continues to increase in prevalence and sophistication. The December 2020 discovery of an “evil emulator farm” demonstrated that mobile fraudsters can now automate their processes. They can now easily harvest mobile device identifiers, spoof GPS locations, and intercept SMS messages to bypass static multi-factor authentication. Achieving unforeseen levels of scale and speed of operation, these cybercriminals successfully emulate unsuspecting users’ mobile devices and drain millions from online bank accounts in record time. By modernising their authentication framework (including secure provisioning, secure channel communication, client- and server-side risk analysis, continuous session monitoring with risk assessment and machine learning (ML)), financial institutions can stay one step ahead of attacks. In this webinar, OneSpan’s mobile fraud experts explore strategies to eliminate the impact of these increasingly sophisticated fraud threats and share ways to protect mobile users by deploying advanced app security to prevent emulation. Speakers: - Ralitsa Miteva, Business Solutions Manager, Fraud Detection and Adaptive Authentication at OneSpan - Greg Hancell, Fraud Manager, Fraud Consulting at OneSpan .

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At OneSpan, we specialize in digital identity and anti-fraud solutions that create exceptional and secure experiences. From risk-based adaptive authentication to digital identity verification, our next generation solutions are delivered on a cloud-based platform. The OneSpan Trusted Identity Platform makes it easy to integrate new and existing tools and technologies, to better detect fraud and improve the user experience.