The Cyber Defense eMagazine March Edition for 2024

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A Consolidated Approach to Fraud: Bringing Together Risk Insights, Organizations and Technology By Kimberly Sutherland, vice president, fraud and identity strategy, LexisNexis® Risk Solutions Digital fraud has seen a substantial increase in recent years, mainly due to the sharp rise in digital transactions. The proliferation of various digital channels and payment formats, including those employed for in-store purchases as consumers return to physical shopping locations, has provided added convenience for consumers and enhanced flexibility for businesses. Nevertheless, fraudsters are keeping pace and have devised new methods to target both consumers and businesses with progressively sophisticated fraud attacks. Their operations have evolved into intricate networks, where every piece of information is interconnected, forming a valuable link in a vast global chain. Cyber Defense eMagazine – March 2024 Edition 26 Copyright © 2024, Cyber Defense Magazine. All rights reserved worldwide.
To effectively counter fraud, businesses need to gain a deep understanding of their trusted customers. This empowers organizations to enhance the digital experience for legitimate customers while focusing their efforts on scrutinizing other activities to spot potential attacks. Achieving this goal entails augmenting fraud intelligence by developing a comprehensive perspective of each customer's journey and fostering collaboration and information exchange with other entities. 360-Degree View of Your Digital Customer Base A 360-degree view requires gaining a comprehensive and holistic understanding of customers by incorporating risk insights from various touchpoints throughout their digital interactions with a business. The objective is to seamlessly integrate and analyze seemingly disparate information from diverse sources to construct a unified customer profile. This includes information gathered from websites, mobile apps, social media, email communications, customer support interactions, online purchases and other digital channels. As an illustration, financial institutions often draw a distinction between digital banking risk and Card-Not- Present (CNP) transaction risk assessments, even though there is no inherent necessity for this differentiation. According to findings from the LexisNexis Risk Solutions Cybercrime Report, an average of 82% of consumers who engage in online shopping with their credit cards are also active users of online banking services provided by the same bank. This presents an opportunity to share digital identity intelligence seamlessly across channels, fostering trust and preventing more intricate forms of fraud. Consequently, this approach enables a comprehensive understanding of each customer's interactions, preferences and behaviors, irrespective of the channel they choose. Ensuring precision in the digital intelligence gathered from these diverse channels is paramount. This involves seamless integration of information collected from each touchpoint rather than compartmentalizing it within disparate systems. In the realm of ecommerce, this also entails leveraging the same digital intelligence for risk assessments across digital channels and extending its use to physical stores where customers can access digital payment methods via an app. The real-time amalgamation of offline and online insights can prove instrumental in identifying potential attacks during their nascent stages, enabling swift responses. Furthermore, organizations should transition from single, point-in-time risk assessments to developing risk profiles that encompass all three pivotal stages of a customer's lifecycle, including new account creations, logins and payments. Crafting a comprehensive customer profile serves as a deterrent to fraudsters seeking to exploit vulnerabilities through multi-channel attacks. For example, delivering a real-time, in-app message to the end-user or customer can confirm an unusual payment, verify that no coercion is involved and facilitate a final sanity check to thwart attacks. By maintaining a holistic perspective on customer interactions, businesses gain the ability to detect potentially fraudulent behavior in its infancy at every juncture of the customer's journey. Cyber Defense eMagazine – March 2024 Edition 27 Copyright © 2024, Cyber Defense Magazine. All rights reserved worldwide.
Page 1 and 2: Unlocking the Power of Governance i
Page 3 and 4: Bridging The Gap: Diversity Cyber C
Page 5 and 6: Reality War -----------------------
Page 7 and 8: @CYBERDEFENSEMAG CYBER DEFENSE eMAG
Page 9 and 10: Cyber Defense eMagazine - March 202
Page 21 and 22: How does this translate to practice
Page 23 and 24: Cybersecurity or Cyber Resilience:
Page 25: Why Cyber Resilience Aligns with Ze
Page 29 and 30: About the Author Kimberly Sutherlan
Page 31 and 32: for Civil Rights. That figure is up
Page 33 and 34: 6 Factors to Consider When Choosing
Page 35 and 36: activity tracking is a critical com
Page 37 and 38: A changing regulatory landscape The
Page 39 and 40: This is the year for organizations
Page 41 and 42: Digital Transformation and Legal Se
Page 43 and 44: About the Author Robert Scott is Ch
Page 45 and 46: workforces to recognize internal th
Page 47 and 48: inventorying network devices and so
Page 49 and 50: endpoint security solution, that ma
Page 51 and 52: Becoming Resilient to The Cyber Inc
Page 53 and 54: Bringing it all Together The cyber
Page 55 and 56: But which one should you choose? We
Page 57 and 58: You can use Nordpass’ password ge
Page 59 and 60: AI's role in uncovering complex pat
Page 61 and 62: diverse backgrounds in the tech wor
Page 63 and 64: Building AI on a Foundation of Open
Page 65 and 66: esource. While the would-be travele
Page 67 and 68: crucial. Tech companies have a prof
Page 69 and 70: By fostering inclusive workplaces a
Page 71 and 72: In fact, this is already happening.
Page 73 and 74: Full Drive Encryption Only a Half-M
Page 75 and 76: Addressing the Challenge of Rogue D
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The Benefits of Cross-Team Collabor
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About the Author Tony King is NETSC
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could make changes to the databases
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CTI for M&A Active dark web Intelli
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focusing on threats originating out
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Ongoing portfolio monitoring Timing
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Regardless of their size, organizat
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About the Author Mike Caralis, Vice
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But we will soon start to see AI us
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Relying on the Unreliable The Hidde
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About the Author Tinglong Dai is th
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Almost as a chilling reflection of
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What Individuals Get Wrong About Bu
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Adversary in the Middle: Transparen
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About the Author Matt Kiely is a Pr
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conducting behavioral analysis to b
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Crypto Kaleidoscope: Investing in C
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The Art of Timing and Patience Like
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Cryptographic Protocol Challenges B
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delivered such information, so far.
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Below are answers to the two most c
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Securing The Stars: Addressing Cybe
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Navigating the Challenges of Space
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standards, such as those undertaken
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Your Company Culture Can Become a P
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Companies are not required to share
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Cybersecurity Forecast Navigating t
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counter AI-driven threats, as defen
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Decoding the Cybersecurity Implicat
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Business Logic Errors Business logi
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Department of Defense Publishes Lon
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C3PAO itself will submit the necess
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Edge Computing Market Worth Over US
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How Cybersecurity Supports Business
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Most organizations have experienced
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How Large Language Models Can Be Us
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To enhance protection, individuals
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engineering services. All sectors c
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AI’s attraction is only going to
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Is Improving Cybersecurity One of Y
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and apps may contain exploitable se
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More recently, the asymmetric battl
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We have entered a period of human h
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apps or clicking on malicious links
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About Salt Communications Salt Comm
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This is a big story - not just beca
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The Changing Cyber Threat Landscape
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The researchers observed an increas
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The Global Crisis Cyber Security Pe
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the entire community and the legal
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input, and analysis. AI increases i
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The State of AI in Cybersecurity Tr
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to new and evolving threats. As cyb
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The "State of AI in Cybersecurity"
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strategy, and encouraging cross-fun
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About the Author Gary Barlet is the
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enticing emails in cleaner grammar
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Traditional Access Control is Outda
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Under this model, an assortment of
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Unleash Innovation by Replacing Bar
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This culture change also involves r
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Cyber Threats and Challenges A repo
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• Collaborating and sharing infor
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The Cybersecurity Implications of T
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Cyber Defense eMagazine - March 202
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CyberDefense.TV now has 200 hotseat
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Books by our Publisher: Amazon.com:
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