Cyber fraud against organizations is increasing. It’s also becoming a more lucrative attack as cyber criminals capitalize on lagging controls and static rules still defining the security landscape for many businesses. Cyber criminals are winning in the arms race of online customer security. With billions of credentials leaked each year, and sophisticated phishing campaigns resourced by organized crime, attackers are increasingly focused on stealing user’s information, money, loyalty points, and merchandise from online accounts. To help mitigate such threats, organizations must test and integrate new controls more quickly and make advanced analytics a core competency with-in the cross functional team.
For most organizations accountability for cyber risk is shared between disparate groups. KPMG’s approach uses an agile modern delivery, where complexity is handled by scalable computing across data sets and powered by machine learning. In this way all groups can securely benefit from the others’ insights in real-time and across channels.
Whether a company wants to customize off-the-shelf products, or build their own Cyber and Fraud Risk Analytics platform, KPMG has a framework, example organizational models, and code accelerators to help develop a capability. Working with the experienced professionals at KPMG makes a difference.
A customer authentication example: Intensive efforts, but with narrow focuses
Trust is a necessity and a dominant influence on both growth and future performance. At KPMG, we understand the trust imperative and how closely intertwined it is has become with cyber proficiency.
We work with clients across industries and sectors to evolve their cyber detection and response capabilities—balancing customer and employee experience, so the business is able to focus on driving success through trusted delivery.
Our Cyber and Fraud Risk Analytics capability, reference architecture, and technology accelerators help companies modernize their systems without rearchitecting everything that currently defines their cyber function. Some clients think machine learning is difficult to implement due to insufficient training data, or a high investment for unknown returns. KPMG can demonstrate otherwise with its Cyber and Fraud Risk Analytics capability.
By identifying both high-volume and under-the-radar cyber-attack patterns posed by internal and external users, we glean actionable insights into account takeover, inappropriate network usage, malware infections, phishing attacks, and potential data loss. With a focus on insider threats, our capabilities help provide real-time internal/external threat detection and mitigation strategies.
To learn more about how KPMG can help make artificial intelligence and machine learning core competences of your security origination, please refer to our cyber and fraud risk analytics program overview.