Kaspersky Lab Unveils Diversified Fraud Prevention Offering for eCommerce, Banking and Loyalty Program Providers

Woburn, MA – June 7, 2018 – Today, Kaspersky Lab is announcing a new generation of Kaspersky Fraud Prevention to provide organizations with tailored solutions to protect their business and customers from sophisticated fraud-related challenges. 

The offering is comprised of two standalone products: Kaspersky Advanced Authentication, which aims to prevent account compromise scenarios when developing digital channels, and Kaspersky Automated Fraud Analytics, to monitor and identify fraudulent activity, allowing businesses to make timely decisions when investigating fraud cases and cross-organizational money laundering schemes. 

Kaspersky Advanced Authentication: securing the growth of digital business 

Due to the rapid development and growth of digital channels, online fraud has become a problem for a broad range of businesses beyond the finance sector, including loyalty program providers and eCommerce organizations. It has become increasingly important for these businesses to improve the security of online transactions while balancing user experience and the cost of implementing additional security measures, such as multifactor authentication.

To help businesses overcome these challenges, Kaspersky Advanced Authentication leverages a set of technologies that identifies an anomaly or possible fraudulent activity at both the login and session stages, and flags it to the organization for additional checks and confirmation with the user. 

The solution analyzes behavioral and biometric data, device reputation and other valuable non-personalized metadata, while machine learning and complex mathematical algorithms ensure high detection rates and reduce anomaly detection time. The authentication process does not require any specific actions from the user, allowing businesses to prioritize high user retention and growth of their digital channels.  

Kaspersky Automated Fraud Analytics: informed action against fraud and money laundering

Financial crimes, including fraud and money laundering, remain a serious concern in the modern economy. These potential threats put a major responsibility on financial organizations who must achieve complete transparency in their operations – not only for the sake of their businesses – but also to maintain compliance with evolving regulations.

Kaspersky Lab’s Automated Fraud Analytics helps businesses minimize fraud-related costs and reduce the risk of fines for non-compliance from regulating organizations. Through access to fraud intelligence, the solution provides an extra level of knowledge of industry-specific fraud and money-laundering scenarios and combines this knowledge with advanced technologies that automatically detect serious incidents in the early stages. 

During the entire user session, Kaspersky Automated Fraud Analytics gathers and analyzes hundreds of depersonalized indicators, such as user’s device and its environment, behavioral and biometric patterns of a user, Remote Access Trojan (RAT) and bot usage, mobile malware and web injects. With machine learning algorithms, the solution can correlate these findings with the patterns of account takeover, new account fraud and money laundering, through Kaspersky Fraud Prevention Cloud and global fraud intelligence based on big data. 

In addition, with the linking and mapping functionality the solution can automatically identify cross-organizational money laundering schemes by looking for correlations between typical profiles, devices used, behavioral patterns and many other details of the sessions that are known to be involved in similar operations.

“While online fraud continues to be a disturbing reality, primarily for financial organizations, more and more industries are at risk as they invest money and resources in developing the digital part of their businesses,” said Alessio Aceti, vice president, new business, at Kaspersky Lab. “That is why we have revised our offering to include more diversified, tailored solutions for specific scenarios and business requirements: whether it’s a secure authentication of users without extra layers, or more in-depth fraud analysis and intelligence.”

The new Kaspersky Fraud Prevention offering is now available globally. More information about the solution, its pricing and contact information for customers is available on our website. 

About Kaspersky Lab
Kaspersky Lab is a global cybersecurity company, which has been operating in the market for over 20 years. Kaspersky Lab’s deep threat intelligence and security expertise is constantly transforming into next generation security solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe. The company’s comprehensive security portfolio includes leading endpoint protection and a number of specialized security solutions and services to fight sophisticated and evolving digital threats. Over 400 million users are protected by Kaspersky Lab technologies and we help 270,000 corporate clients protect what matters most to them. Learn more at www.kaspersky.com.

Kaspersky Lab Media Contact: 
Denise Berard
781.503.1836
Denise.Berard@kaspersky.com