Security News > 2024 > June > Modern fraud detection need not rely on PII

Trends in online fraud detection often act as the canary in the coal mine when it comes to understanding and combating the next generation of online scams, fraud and cybersecurity threats.

As deepfakes and other AI-powered scams trick users into sharing their private information, a privacy-centric approach to fraud prevention - one that doesn't rely on sensitive user data to authenticate a user or transactions - makes good business and technological sense.

A fraud detection solution should also retain certain broad data about the original value, such as whether an email domain is free or corporate, whether a username contains numbers, whether a phone number is premium, etc.

Finally, a fraud detection system can make good use of third-party data that is already anonymized.

While the two teams are long-time collaborators, new fraud technologies such as deepfakes and scams such as Authorized Payment Push fraud have expedited the rise of Cyber Fraud Fusion Centers.

At the end of the day, to combat the next generation of online fraudsters - AI-powered or otherwise - fraud detection systems need to shift their focus from who the user is to why they're there.

News URL

https://www.helpnetsecurity.com/2024/06/14/online-fraud-detection/