IBM turns cognitive behavioural solutions on cyberfraudsters

Multinational tech firm IBM has announced new behavioural biometric analysis capabilities in its digital banking fraud prevention technology, IBM Security Trusteer Pinpoint Detect.IBM said that the solution uses patented analytics and machine learning for real-time cognitive fraud detection. The new behavioural biometric capabilities incorporate the use of machine learning to help understand how users interact with banking websites, creating gesture models based on patterns of mouse movements that become increasingly more accurate over time.According to IBM's X-Force Research, financial services is one of the top three targeted industries for cybercrime. Cybercrime organisations continue to develop malware and social engineering techniques to target financial websites and customers, typically with the goal of obtaining credentials to take over user accounts.For example, malware like the GozNym Trojan, recently found by IBM's X-Force Research team, uses redirection attacks where an unsuspecting customer is hijacked to a fake site where they are made to enter their banking credentials for the hacker to steal. These fake websites are set up by criminals to look precisely like the bank's site, including the correct URL and SSL certificate in the address bar. Once the criminal has those credentials, they log in as the user and attempt to move as much money as possible through fraudulent transactions.The new behavioural biometric analysis features of IBM Security Trusteer Pinpoint Detect enable real-time risk assessment based on gesture modeling. When users access their online banking site, IBM Security Trusteer Pinpoint Detect is designed to collect user behavior, detect potential device spoofing, identify access with compromised credentials, and correlates various other device attributes. Through the addition of cognitive fraud detection, IBM Security Trusteer Pinpoint Detect is designed to also provide real-time evaluation of behavioral biometric indicators – with no additional costs, entitlements, or implementation requirements.”Given enough time and resources, cybercriminals can defeat passwords and security questions,” said Ravi Srinivasan, Vice President, Strategy, IBM Security. “Behavioral biometrics is about what the user does, not what the user knows. IBM Security Trusteer Pinpoint Detect now can now better differentiate real users from fraudsters using gesture models, giving banks and other organizations the power to protect the interests of their customers, and ultimately determine the sources of financial fraud.”

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