NuData Security Detecting Criminals Earlier to Reduce Risk of Account Takeover Fraud

By: Talha Bhatti  |   July 28th, 2013   |   Business, News, O Canada

Online fraud has always been a concern for businesses and consumers alike, especially when it comes to monetary transactions. Vancouver based NuData Security is hoping to change how users feel about inputting their sensitive information and keeping it secure by revolutionizing the way they deal with such fraud.

 

For Jules Campeau, CMO of NuData Security, detecting fraud as fast as possibly is the only way to catch perpetrators in their tracks with minimum damage. “The earlier you can detect fraud or criminal activity the sooner you can put a stop to it,” Campeau said according toTechvibes, “whereas a lot of our competition are looking at it after the fact—analyzing it in a forensic manner we are able to give accurate intelligence before it happens.”

 

The main security concern about keeping data safe and out of unwanted hands is the fact that a website has to be as secure as it possible can. Saying it is definitely much easier than it being practically implemented because tracing an intruder is the most difficult part. With their premier web-fraud protection software, which was a solution to the highly disliked CAPTCHA market, is certainly keeping the risks at a minimum and protecting some of the biggest portals on the net.

 

“NuDetect profiles the user and provides a score based upon not who the user is, but what the intent of the user is,” added Campeau. “It can look at every single interaction event. That can be as simple as a mouse click, a stroke across your smart phone or as complex as filling out a form or entering a password.”

 

Previous security measures had actually led to websites losing out on actual customers that were genuine, while sometimes letting in those who had malicious intentions. Now by customizing their scoring algorithm, each client can be treated in a unique manner, making it different to logon to an e-commerce site and a government web portal instead of using the same method for all.

 

“What our clients won’t tolerate,” stated Campeau, “is if we’re blocking good customers from transactions. That is called a ‘false positive’ or a ‘customer insult.’ Our clients take that issue as seriously as they do blocking the actual fraud transactions.”

 

With fears having grown to preposterous levels after internationally renowned game maker Ubisoft had a data leak, the security company had to come up with some innovative methods. Ubisoft had reported that their sensitive logon information was stolen, but through behaviour analytics, it was easy to tell how different the portal was being used.  NuData Security is leading the scene in protecting some of the largest businesses in the online world and hopes to continue tackling newer forces that emerge every now and then.

Source: TechVibes