Dark Reading – 5/5/17
CA Technologies today announced CA Risk Analytics Network, the payment industry’s only card-issuer network that stops card-not-present fraud instantly for network members using real-time behavior analytics, machine learning, and global transaction data to reduce online fraud losses by an average of 25 percent* – a potential of $2.2 billion in savings.**
As a cloud-based service, CA Risk Analytics Network incorporates a new advanced neural network model, backed by real-time machine learning, to protect 3-D Secure card-not-present (CNP) transactions. It learns from and adapts to, suspected fraudulent transactions in an average of five milliseconds, instantly closing the gap for potential fraud using the same card or device across all members of the network.
According to Javelin’s 2017 Identity Fraud Report, explosive growth in card-not-present fraud, driven by the increasing e-commerce and m-commerce volume, as well as the EMV liability shift, contributed to the rise of existing card fraud. "Just as e-commerce is displacing point-of-sale transactions, the same is true for the channels in which fraudsters choose to conduct their business. Among consumers, there was a 42 percent increase in those who had their cards misused in a CNP transaction in 2016, compared to 2015 levels," the report showed.