Analyst Report Reveals Best Practices in Online Fraud Detection

VANCOUVER, British Columbia, May 28, 2015 /PRNewswire/ -- In a new report, Gartner analyst Avivah Litan writes, "Large enterprises are using user behavior analytics to detect breaches before significant damage occurs."

NuData Security is offering a complimentary download of this Gartner report, Best Practices and Success Stories for User Behavior Analytics, available here: http://download.nudatasecurity.com/user-behavior-analytics/

Enterprises have begun to use User Behavior Analytics to detect breaches before major damage occurs. Litan's findings include:

• All types of attacks are continuing to penetrate organizational defenses, highlighting the fact that most enterprise security is based on yesterday's security concepts that use rules and signatures to prevent "bad" occurrences.
• "Bad guys" are evading most enterprise controls that rely on perimeter-focused security monitoring, identity access controls and various types of threat protection.
• UBA is successfully deployed for three main purposes: one being to find the "bad guys."
• By 2018, at least 25 percent of self-discovered enterprise breaches will be found using UBA.

Key Gartner recommendations for security managers include:

• Use UBA to rapidly detect bad actors and behavior, prioritize security alerts, reduce alert volume and streamline alert investigations.
• Use UBA to detect automated user account takeover and user account creation attacks against enterprise assets, which are especially prevalent among large consumer brands and their Web-facing applications.

Notable trends in automated attacks found by Gartner:

• Use of widely distributed scripted attacks that emulate full device characteristics - that is, a full Web session with a modern browser, making it harder to detect using traditional device identification techniques.
• Account takeover is growing as the preferred method for taking over payment instruments, as opposed to credit card cycling for fraudulent purchases. This trend will no doubt continue as more e-commerce players offer consumers digital wallets for storing their payment instruments, making it easier and faster to check out.

NuDetect, NuData Security's comprehensive behavior analytics platform, includes the following capabilities:

• Continuous user behavior monitoring and analysis of users and accounts: NuData Security continuously monitors billions of events and accounts per year through their entire lifecycle across multiple channels including: desktop and mobile web, and mobile apps.
• Layered approach: NuDetect has capabilities across all three layers of fraud detection (Endpoint, Navigation, User & Account).
• Multi-pronged protection: NuDetect's non-PII data network links entities and relationships through behavioral metrics, device identity, IP address, email address and other metrics. Its tightly integrated model allows each layer of fraud detection to communicate with the others, identifying behavior and relationships that aren't visible when considering each layer independently.

Michel Giasson, CEO, NuData Security, said: "It's a sad reality that, due to massive fraud endeavors, neither users nor their information can be inherently trusted. While the pool of untrustworthy information continues to increase, we need to combat that distrust with information that can be trusted: observed behaviors.

"NuData Security's Entity Linking technology takes UBA to a new level by determining relationships in real time based on emergent behavior patterns and finding the 'good users' and the 'bad actors' using predictive user behavior analytics. I believe that Gartner's research-based recommendations align with our company's approach as the best practice to prevent online fraud."

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About NuData Security
NuData Security predicts and prevents online fraud, protecting businesses from brand damage and financial loss caused by fraudulent or malicious attacks. NuData Security analyzes and scores billions of users per year and services some of the largest ecommerce and Web properties around the globe. Additional information is available at: http://nudatasecurity.com/

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SOURCE NuData Security

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