Cybercrime , Fraud Management & Cybercrime , Fraud Risk Management
Thwarting Authorized Push Payment Fraud
Reed Luhtanen of Faster Payments Council Describes Role of Behavioral Biometrics
Behavioral biometrics can play an important role in mitigating the risk of authorized push payment fraud, says Reed Luhtanen, executive director at the U.S. Faster Payments Council.
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This biometrics technology involves, for example, "analyzing how one holds a particular device or how you are moving the mouse," Luhtanen explains. Artificial intelligence can help analyze previous behavior patterns to determine if the right person is involved in the payment, he adds.
In a video interview with Information Security Media Group, Luhtanen also discusses:
- Top payments fraud trends;
- Technical solutions for fighting payment fraud;
- Authentication options.
Luhtanen, executive director of the U.S. Faster Payments Council, has extensive experience in the payments industry and has served on the council's board of directors; the Federal Reserve-sponsored Governance Framework Formation Team, which created the U.S. Faster Payments Council; and the Corporate Advisory Group for The Clearing House’s Real-Time Payments system.
