Uploaded October 2019 | Updated September 2026, 4 days ago
Right now, combatting credit card fraud is mostly a reactionary process. Issuers wait until transactions occur that either appear fraudulent according to rules-based analytic engines or are reported by customers, and only then, do they intervene to prevent further fraud. But by then, it's often too late - losses through merchandise theft, investigation cost, reissuance, etc., have already occurred, and those losses have piled up into over $10B of stolen funds each year being pumped into the online criminal ecosystem.
There is a better way. By using intelligence gathered from online sources such as the dark web combined with transactional data, we demonstrate predictive analytics that can not only identify who the next fraud victims will be, but also where card data is being stolen from, all before any fraudulent transactions have occurred.
Payment card fraud is the slush fund that underlies most global criminal threats, from organized crime to political meddling, in large part because of antiquated, reactive techniques and a dearth of innovative techniques to more proactively combat it. Our approach represents a paradigm shift in fighting payment card fraud; by using dark web market intelligence combined with transaction data to predict both fraudulent charges and points of compromise, we can intervene before any loss occurs, stopping payment card fraud dead in its tracks and eliminating a major source of funding for the global criminal ecosystem.
Black Hat USA 2018
Right now, combatting credit card fraud is mostly a reactionary process. Issuers wait until transactions occur that either appear fraudulent according to rules-based analytic engines or are reported by customers, and only then, do they intervene to prevent further fraud. But by then, it's often too late - losses through merchandise theft, investigation cost, reissuance, etc., have already occurred, and those losses have piled up into over $10B of stolen funds each year being pumped into the online criminal ecosystem.
There is a better way. By using intelligence gathered from online sources such as the dark web combined with transactional data, we demonstrate predictive analytics that can not only identify who the next fraud victims will be, but also where card data is being stolen from, all before any fraudulent transactions have occurred.
Payment card fraud is the slush fund that underlies most global criminal threats, from organized crime to political meddling, in large part because of antiquated, reactive techniques and a dearth of innovative techniques to more proactively combat it. Our approach represents a paradigm shift in fighting payment card fraud; by using dark web market intelligence combined with transaction data to predict both fraudulent charges and points of compromise, we can intervene before any loss occurs, stopping payment card fraud dead in its tracks and eliminating a major source of funding for the global criminal ecosystem.
Black Hat USA 2018
