Since the emergence of online banking, FIs have been engaged in near nonstop combat with cybercriminals. Ongoing reliance on passwords and personal information for identification and authentication leaves customers open to widespread criminal impersonation across a variety of services. In an effort to stem the onslaught, FIs often rely on an industry of vendors and specialists who infiltrate the seedy world of black market data and malware sellers.
Data breaches were associated with more than $8 billion in fraud in 2016. To more effectively prevent cyberattacks and protect their customers, financial institutions are paying more attention to online criminal communities. Whether FIs are infiltrating black markets through internal teams or receiving alerts from vendors about potential customer data being traded on underground forums, they are increasingly protecting customers through the use of subterfuge.
Join Javelin as we explore how FIs gather fraud and security intelligence, and the thorny issues that can occur when FIs go undercover:
- The relationship between data breaches and fraud in 2016
- How financial institutions are gaining insight into criminal activity on the dark web
- Legal and ethical concerns that exist when performing such operations
- The kinds of banking information bought and sold on criminal forums
- Outcomes from FIs conducting online surveillance of criminals
* This is a client only Javelin Advisory Services webinar. Please use your company email address to register for the webinar. We do not accept generic email addresses, such as yahoo and gmail.