SOURCE: 41st Parameter

41st Parameter

February 20, 2013 13:46 ET

41st Parameter and Aite Group Arm Regional Banks With Strategies for Fraud Prevention

Industry Webinar Provides Insights Into the Growing Threat of Fraud for Small and Mid-Size Banks

SAN JOSE, CA--(Marketwire - Feb 20, 2013) - 41st Parameter, the global leader in fraud detection and prevention, has partnered with Aite Group to release a webinar, Fraud Moving Downstream: Navigating Through the Rough Waters Ahead. David Britton, vice president of industry solutions at 41st Parameter, and Julie Conroy, research director at Aite Group, provide an overview of the threat landscape for financial institutions and explain how existing conditions create the perfect storm for hackers, leaving regional and mid-size banks vulnerable to fraud.

Each year, more than $1 billion is stolen small and mid-sized banks across the U.S. and Europe. Because the largest financial institutions have successfully deployed sophisticated fraud prevention solutions, fraudsters have started targeting second and third tier banks which are often ill-prepared for their attacks.

Key topics discussed in this webinar include:

  • How Regional Banks are Enhancing Online Offerings: Regional banks are responding to customer demand for new services, especially mobile banking, exposing them to new threats.
  • The Rise in Sophisticated Fraud Attacks: Fraud rings and other new attack types pose serious threats to regional banks that lack strong, multi-layered defenses. 
  • Regional Banks' Lack of Resources: Second and third tier banks have less manpower and less sophisticated solutions in place, which makes reviewing transactions and identifying repeat and cross-channel attacks incredibly difficult.

41st Parameter also created a graphic that illustrates this growing threat of fraud for small and mid-size banks, found here: http://blog.the41st.com/fraud-moving-downstream-regional-banks-beware/

Access to the full webinar on-demand can be found here: http://www.the41.com/buzz/webinars 

About 41st Parameter
In a world where people are increasingly reliant on a variety of Internet-connected devices for everything from banking to shopping to entertainment and media, creating relevant customer experiences and preventing online fraud are constant business challenges. 41st Parameter, the global leader in device recognition and intelligence, combines patented technologies and years of expertise to identify devices without cookies, without compromising privacy and without impacting performance. AdTruth, the digital media division, gives marketers a better way to recognize and reach their most valuable audiences across all types of devices. The company's FraudNet platform protects businesses from fraud before it happens. These privacy compliant solutions help keep the Internet more secure and relevant for everyone.