Page 170 - Cyber Defense eMagazine December 2022 Edition

current fraud solutions is that their risk assessments rely on the aggregation of multiple rules based on
digital identity data and user behavior across multiple individual interactions. For some organizations,
these rules can run into the hundreds and thousands, which means making a risk decision is both
complex and lengthy. Alongside this, there is an industry movement towards simplicity in systems due to
lengthy, adhoc and often complicated decisioning processes which can fail during times of employee
churn and talent shortages.

Businesses need a simple way of aggregating complex data over time so that they can compare an
existing action, or user journey, against previous patterns, but without overcomplicating this with multiple,
extensive lists of rules.

Creating ways of aggregating data across devices, locations, behaviors and user journey behavior would
allow risk assessments to be made based on patterns, or signatures, rather than binary rules.

This is particularly powerful across user journey behaviors. For example, businesses could track similar
journey signatures for something like Account Takeover, linking particular credential testing and bot
attacks with downstream attacks on a user accounts, or fraudulent credit card payments.

Trusted behavior patterns can essentially be “cohort-modelled” to reduce the number of legitimate
customers that are stepped up, even if they’re new to a business and the system hasn’t had time to
baseline them. Further, any anomalies can be spotted at multiple stages of a digital interaction and
interventions made in real time, on a per-user basis. It all makes for a more seamless customer
experience while keeping fraud losses and chargebacks to a minimum.

Eliminating the siloes that fraudsters exploit

By understanding the context of the entire user journey and harnessing aggregated digital “signatures”
to simplify risk decisions, organizations can start to join together every step of a user’s digital journey,
removing the siloes that fraudsters play in and better separating good and bad intent.

And as part of this approach, real time intervention is key. Businesses want to block high-risk behavior
before it impacts either their customers or their bottom line. They can’t afford to wait for the next release
cycle or resource availability. Seeing high-risk behavior and either stopping a transaction dead, or
sending it for further review, reduces both risk and the opportunity for fraudsters to pivot to a new
vulnerability. In this way, they can enhance the user experience by making sure their best customers are
recognized and rewarded with digital experiences they deserve.

Cyber Defense eMagazine – December 2022 Edition 170
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