The sun was shining (rare for April in London) as the attendees joined us for an afternoon focused on bringing together Fraud and Authentication professionals to discuss how their roles are becoming more entwined with the focus on customer authentication, user journeys and the ever increasing threat of fraudsters.
After some roundtable thinking from our attendees where we explored the good (letting in trusted users), the bad (stopping the fraudsters) and the ugly (Compliance - GDPR, PSD2) of user authentication we welcomed Tony Sales to the floor.
If you haven't heard or met Tony speak before then I recommend you get yourself registered for one of our future Roadshows in Manchester & Bristol as he brings a wonderfully unique insight into the behaviours and thinking of the Fraudsters businesses are trying to halt.
After running through his history of devious, fraudulent behaviour the audience started to get the picture of how and why fraud is committed and the opportune nature of how fraud happens. More often than not it’s a case of testing and prodding defences until they find a chink in the armour and then trying it, waiting to see if it raises any alarms and then truly exploiting the weakness. It’s about having the highest security walls of your industry, fraudsters climb into the first open window to grab the loot, an opportunity is everything. You’re not competing against the fraudsters but your rivals levels of security for the most part.
Tony then gave the audience his insights into the next generation of fraud that he’s seeing from his network and how businesses can avoid being the next victim. The main point being that fraudsters share information, techniques and collaborate on attacks - why shouldn’t businesses be doing the same to defend themselves?
After Tony, it was the turn of the iovation team to face questions from the audience, they ranged from highly technical to compliance to the strangest fraud case we’d seen (FYI, it was the case of fraudulent pet insurance using a frozen dead dog...).
We ended the presentations with Mark Weston, our Data Protection Officer, giving everyone the low down on iovation and GDPR. The short version, as we focus on the device and not the end user, is that we welcome GDPR with open arms and can assure you we aren’t a weak compliance link.
We then headed to the nearest bar for networking and socialising to bask in the unseasonably warm London weather.
If you’d like to attend our Roadshows in Manchester & Bristol or Fraud Force London then please register your place. You’re sure to get some great industry insights (this blog is the tip of the iceberg) and gain some valuable connections in your field.