As the credit card industry introduced EMV chip cards to address counterfeit fraud, criminals turned their attention to online “Card Not Present” (CNP) transactions. According to a 2017 report by the US Payments Forum, the EMV implementation is projected to lead to an estimated $6.4 billion in CNP fraud in 2018 in the US alone.
To counter this threat, credit card industry’s security model is leveraging:
- Data-driven analytics that model user behavior and buying patterns
- Real-time monitoring of all payment transactions
- Automated mitigations when unusual behavior is detected
Learn more about the credit card security model and these key differentiators in our eBook, “Protect Your Data the Way Banks Protect Your Money,” to see how you can apply this strategy to enterprise data security, and use it to combat insider threats and targeted breaches.