Priority: Frictionless Transactions Over Fraud PreventionKaspersky Lab's Tim Ayling Details Why Fraud Prevention Keeps Getting Tougher
As the pace of technology innovation continues to quicken, there are a mind-boggling number of ways in which individuals' privacy and data security can be put at risk, says Tim Ayling of Kaspersky Labs.
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Count everything from internet of things devices such as Alexa in homes, which allow customers to make payments, to the social media "open culture" in which individuals appear all too ready to share their sensitive data with the world.
"If you think about the internet of things, we are literally two years away from being able to leave the car on your drive, it will drive itself to the gas station - petrol station - get itself filled up and then drive itself back again. And that opens up a whole new world," Ayling says.
At the same time, some pre-existing approaches to security - tokens, SMS - are increasingly getting in the way of transactions and must be discarded, he says.
In a video interview at Information Security Media Group's recent Security Summit: London, Ayling discusses:
- How organizations are prioritizing frictionless transactions over fraud prevention;
- Why the retail sector, followed by the telecommunications and financial services, see the highest levels of fraud;
- The move toward risk-based fraud prevention, both by industry and regulators.
Ayling is the global head of fraud prevention solutions at Kaspersky Lab. He previously served as director of EMEA for fraud and risk intelligence at RSA Security. Before that, he held positions at a number of other organizations, including Hexis Cyber Solutions, Trend Micro, KPMG and Entrust.