IBM Will Learn How You Interact With Your Bank Site To Detect Fraud

Traditionally, banking websites have relied primarily on passwords and PIN codes to make sure people logging in are really who they claim to be. But users can be tricked by phishing attacks into entering their bank credentials into fake websites, or they can have their login information stolen by malware eavesdropping on their devices, letting thieves access their accounts and potentially steal funds. According to reports from IBM Security’s X-Force team, almost 20 million financial records were breached last year alone, with each costing financial institutions an average of $215. To help make it easier for banks to detect unauthorized logins, IBM is introducing what it calls behavioral biometrics to its Trusteer Pinpoint Detect anti-bank-fraud toolkit. The new feature will automatically use machine learning to build statistical models of how…


Link to Full Article: IBM Will Learn How You Interact With Your Bank Site To Detect Fraud

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