Cyber Defense eMagazine January Edition for 2022

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This information falls into two categories: Online data: Think about everything created and stored on the internet, such as web browsing histories, digital ad interactions, previous in-app purchases, email addresses, social media posts, and a device's IP address. Offline data: This refers to anything related to life in the physical world, including demographics like age, race, ethnicity, gender, marital status, income, education, and employment, as well as past and current mailing addresses and social security numbers. Managing these disparate datasets has become increasingly arduous. They are typically segregated and scattered across CRM platforms and multiple on-site or cloud-based applications and databases. Evergrowing legal and regulatory requirements that govern the collection and use of consumers' personal and sensitive information only add to this complexity. These elements can make it very difficult for merchants to consistently create holistic customer profiles to verify customers' identities. The phone number as a game-changer A customer's phone number is unique from other personal identifiable information (PII) because it "lives" in both the online and offline data worlds. That makes it the primary customer identifier that links to other pieces of information to strengthen the KYC/CDD (know your customer/customer due diligence) process. For many, the first step is implementing one-time passcodes and multi-factor authentication (often through SMS messages) to reduce new types of account registration fraud and thwart thieves attempting to disguise themselves as legitimate customers. But because phone numbers bridge and verify identity between the online and offline world, they are a high-value target for fraudsters to steal. While it's hard to steal a phone number, it's not impossible. SIM swap attacks, where cybercriminals steal someone's identity by porting their phone number to a burner phone (often with the carriers' unwitting assistance) and using those phones to impersonate the victim, are on the rise. Deploying checks at highvalue and high-risk interactions with phone number intelligence can help prevent account takeovers from SIM Swap attacks. Phone number intelligence and risk scoring can look at attributes, including the last porting date, and tie it to other key user identity attributes such as emails, IPs, and devices to assess the likelihood that a phone is in the possession of its owner. Don't rely on manual processes The Juniper report mentioned above also recommends merchants implement artificial intelligence and machine learning-powered automated fraud prevention systems to validate customers' identities. Machine learning and AI learns, adapts, and delivers real-time behavioral and digital identity insights to protect systems and customer accounts better. These ML and AI-powered systems are constantly Cyber Defense eMagazine – January 2022 Edition 42 Copyright © 2022, Cyber Defense Magazine. All rights reserved worldwide.
mutable and dynamic by continually assessing and tweaking parameters to analyze all potential fraud avenues at any given time correctly. Automated phone number reputation scoring is an excellent example of this type of technology. Phone number reputation scoring helps determine individual risk-level for each user and phone number on a merchant's platform – in near-real-time. It does this by scrutinizing and redetermining multiple behavior signals associated with that number for greater accuracy in identifying risky behavior and security threats. Adding in an association of multiple nodes of identifiers (e.g., associate phone numbers and IPs, emails, etc.) also helps to improve accuracy. Businesses that validate their customers behind the scenes with these systems are working to end the tradeoff between smooth online experiences and fraud prevention tactics. They also relieve security teams of the responsibility and burden of conducting thousands of manual and friction-inducing security checks. The Time is Now Over five billion people use their mobile phones every day, with millions more signing on by 2022 1 . As we approach 70% of the world actively using mobile technology, it highlights how truly connected the world is becoming and reveals the ever-growing potential for fraudulent activities 2 . As fraud becomes ever more imaginative and adaptive year-over-year, implementing nimble and intelligent fraud prevention strategies is vitally important. Starting this journey now will ensure a more secure and engaging experience for both you and your customers. To learn more about how you can work to protect your customers through phone numbers and establish continuous trust, please visit TeleSign. 1 https://www.gsma.com/mobileeconomy/wp-content/uploads/2021/07/GSMA_MobileEconomy2021_3.pdf 2 https://www.oberlo.com/blog/internet-statistics Cyber Defense eMagazine – January 2022 Edition 43 Copyright © 2022, Cyber Defense Magazine. All rights reserved worldwide.
Page 1 and 2: “Owning Your Identity” Through
Page 3 and 4: WatchGuard Technologies’ 2022 Pre
Page 5 and 6: @CYBERDEFENSEMAG CYBER DEFENSE eMAG
Page 7 and 8: Cyber Defense eMagazine - January 2
Page 9 and 10: MUST ATTEND REPLAY AVAILABLE ON-DEM
Page 39 and 40: But in spite of this threat, consum
Page 41: How To Thwart Fraud with Phone Numb
Page 45 and 46: Phishing: How To Improve Cybersecur
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Page 49 and 50: offers comprehensive firmware prote
Page 51 and 52: Why Hackers Attack Mobile Devices a
Page 53 and 54: the network. This is a good indicat
Page 55 and 56: About the Author Nicole Allen, Mark
Page 57 and 58: Know your customer As spam and phis
Page 59 and 60: Microsoft Successfully Defended The
Page 61 and 62: However, you can’t rely 100% on t
Page 63 and 64: Why Americans Joined Europe in Not
Page 65 and 66: Have a good backup policy. A good p
Page 67 and 68: Secure Apart from reporting, the af
Page 69 and 70: Taking a hard look at the current s
Page 71 and 72: There are plenty of organizations t
Page 73 and 74: 5. The impact of the talent shortag
Page 75 and 76: The industry is already embracing a
Page 77 and 78: WatchGuard Technologies’ 2022 Pre
Page 79 and 80: Users, especially professionals, ha
Page 81 and 82: What Are DeFi Flash Loans & How to
Page 83 and 84: DeFi hackers can easily exploit fla
Page 85 and 86: 3. Get audited Getting a smart cont
Page 87 and 88: Protecting Critical Infrastructure
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Page 91 and 92: Three Key Facts About AI-Driven Net
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About the Author Eyal Elyashiv is t
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Tyler Farrar, CISO, Exabeam “What
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Protecting unstructured data will l
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change again before they’re done.
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Samantha Humphries, head of securit
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Due to their successes, adversaries
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Paul Farrington, chief product offi
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In 2022, it is going to become cruc
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Our Cyber Defenses Need to Be Battl
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the exploitation aspect, but if tes
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12 Tips for Improving Access Contro
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weak passwords. Password management
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Four Cybersecurity Predictions Fede
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4. Cyber Funding Gets Granular In F
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Of course, these recommendations ar
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Cybersecurity Tips to Help Your Org
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Organizations can achieve true cybe
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quarter. Put simply, any organizati
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Free Monthly Cyber Defense eMagazin
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THE Q1/Q2 GAME CHANGER… CYBERDEFE
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