Product: Fraud and Abuse Prevention Platform
Company: Arkose Labs
Arkose Labs, a global fraud prevention company, updated its Arkose Labs Fraud and Abuse Prevention Platform, an advanced technology suite designed to thwart ecommerce fraud without adding friction to the customer experience. The patented technology platform uses telemetry to identify bad actors, then issues a series of adaptive step-up challenges to wear them down, effectively removing financial incentives and removing return on investment, company representatives stated.
Citing the company's Q4 Fraud and Abuse Report, published Nov. 5, 2019, Kevin Gosschalk, CEO at Arkose Labs, reported bot-driven account fraud increased 70 percent in 2019, with one in five new account openings identified as fraudulent. The report focused on the company's analysis of approximately 1.3 billion transactions between July 1 and Sept. 30, he stated.
Gosschalk noted that increasingly stringent global privacy regulations that prevent advertisers from tracking consumers also make it difficult for merchants and security providers to differentiate between good and bad internet traffic. For example, university students using the same iPhone and Wi-Fi network may look suspicious. Advanced technology helps merchants and security providers sort good and bad traffic without disrupting customers, he explained.
The Arkose Labs Fraud and Abuse Prevention Platform utilizes real-time intelligence, analytics and adaptive step-up challenges to progressively diminish attack profitability while continuously adapting to evolving attack patterns. The unified platform combines a dynamic risk engine with challenge-response technology to deliver end-to-end fraud detection, prevention and security, Gosschalk stated.
Following are the platform's two components:
The combined capabilities of Arkose Detect and Arkose Enforce ensure that only legitimate activity is passed to the ecommerce site. The challenges provide a playful way for users to validate their identities and assuring merchants that they are transacting with real customers.
"The challenges use machine resistant images that are easy for a human to see but impossible for machine vision software to interpret," Gosschalk said. "The fraudster would have to build artificial intelligence to attack each unique force that it encounters, but our constantly changing models, assets and capabilities prevent automated attacks. The system is basically designed to be a battlefield that gives us control of everything we're doing; we keep laying down new landmines as the fraudsters fall over the ones in front of them."
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