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In Sheep's Clothing

In Sheep's Clothing Every day criminals attempt to take advantage of banks, merchants and their customers. Frequently they mask themselves by MIMICKING COMMON BEHAVIOR TO ACCOMPLISH THEIR ENDS. Sometimes, playing by the rules can be used as a ruse to lull even the most vigilant into a false sense of security. An easy way to make deposits, check images are also an easy way for criminals to see account and routing info, as well as samples of signatures. Check Images Account Behavior By monitoring an account over time, criminals can match a victim's behaviors to avoid suspicion. Alerts let consumers know what's Alerts and Notifications happening. With stolen credentials, criminals can alter alert thresholds so their activities go undetected. Contact Information As with alerts and notifications, criminals can alter these details to redirect official communication and hide their tracks. Fraudsters can disguise themselves in the cloak of normality to slip under the watchful eye of banks, merchants or credit card companies. Acme Credit Card Company, how can I help you? Thanks for letting us know. I'll make a note in your records. Have a great trip! Hello, I'm planning a trip to Sheepslyvania in a few weeks and wanted to Thank you. let you know so there wouldn't be any problems with my card. Two weeks later... I'm so sorry, yes, you'll have it tomorrow! Acme Credit Card Company, how can I help you? Hello, I need help! I've just arrived in Sheepslyvania and was robbed! They took my wallet, my passport, all my credit cards - Thank you so much, you've been a great help! erything! Can you rush a replacement card to me? 24 hours later ... While the wolf may be cunning, here are some ways a cautious shepherd can spot an intruder in the flock. Fraud Staging Activities Fraudsters will often take over an account in stages. account access. Next, they will change the account email address or phone number. Then they will wait to see when balances are the highest and quickly move the funds. Being alert to such activities is key to preventing fraud before it happens. they Device Velocity Fraudsters are lazy. They will often attempt to access several accounts from the same device. Having the ability to detect when one device is accessing dozens – or even hundreds - of accounts is critical. Malware Detection Being able to detect the presence of malware can be useful in two ways: indicating that a user's account may have been compromised and as a detail that ca be used to help identify the device. This can be another warning sign that all activity associated with that account needs to be scrutinized. Unusual Device Attributes Looking beyond user-provided data is critical for fraud prevention. If the account owner is located in Ohio but the device accessing the account is located in Russia, this is a major warning sign that all activity should be reviewed to prevent potential losses. 41STPARAMETER A part of Experian

In Sheep's Clothing

shared by 41st_Parameter on Nov 24
Every day criminals attempt to take advantage of banks, merchants and their customers. Frequently they mask themselves by mimicking common behavior to accomplish their ends. Sometimes, playing by the ...




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