| NEW YORK, April 7
NEW YORK, April 7 Credit bureau Experian Plc
has joined forces with technology firm BioCatch to use
behavioral biometrics to help its clients spot fraudsters
applying for credit cards and other lending products online, the
companies said on Friday.
BioCatch's software, which was integrated in Experian's
fraud prevention platform, analyzes the way users interact with
devices and websites by tracking a wide range of factors
including how fast they type or the way they move their mouse
across a web page. The information collected can help BioCatch
determine whether users who are who they say they are or
The companies said behavioral biometrics is especially
useful in spotting when automated programs, or bots, are being
used by fraudsters to apply for credit products online by using
stolen identity information they acquire on the "dark net," an
area of the internet only accessible with special browsers that
can ensure anonymity.
"Behavioral biometrics is one of the up and coming
techniques for defending against fraud," said John Sarreal,
director of product management at Experian. "It is effective in
this day and age when you have more scripted attacks and more
bot armies recruited to submit applications."
Financial institutions are seeking to deploy more
sophisticated methods to counter the rising threat of online
fraud and cyber crime. According to analyst firm Javelin,
roughly 6 percent of consumers in the United States were victims
of identify fraud in 2016, an increase of more than 2 million
victims from the previous year.
Frances Zelazny, vice president of BioCatch, said several
behaviors can be monitored to distinguish between fraudsters and
normal users, such as how familiar the user is with the
For example, fake users might be slower than real ones in
filling out basic information like date of birth and name but
might be very familiar with how a form is structured and will
move more quickly between questions.
For real users, "there tend to be natural pauses between
data entry, as you don't really know if the form is going to ask
you for your phone number, or zip code next," Zelazny said.
(Reporting by Anna Irrera; Editing by Bill Trott)