Bharosa, Inc. a global provider of anti-fraud and authentication security solutions, today introduced a new fraud intelligence network, the first service of its kind to enable proactive sharing of common fraud and risk models across institutions and across industries.
Members of the Bharosa Fraud Intelligence Network can share up-to-the-moment fraud and risk models which aggregate the online fraud patterns analyzed among Bharosa's hundreds of enterprise customers in industries as varied as online banking, eCommerce, government and healthcare. The models contain data on known fraudulent IP addresses as well as computers. They also contain laboratory-derived simulations of future fraud threats, to keep businesses a step ahead of their attackers.
"Unlike other fraud networks, our approach equips the institution to identify fraud using anti-fraud intelligence and defeat it proactively before it happens, rather than seek to dismantle or detect fraud once it has already happened," said Thomas Varghese, president and CTO of Bharosa. "This program also offers the collective and cross-industry anti-fraud intelligence of Bharosa's entire customer base and leading online banking and eCommerce community, for the benefit of all members."
Gartner, Inc.'s Avivah Litan notes in "Fraud Detection Technologies Range From Reactive to Proactive" that "a rash of sophisticated cybercrimes are creating a demand for next-generation fraud detection and prevention systems. New solutions will have greater sophistication and intelligence. In response to demand for more-intelligent solutions, vendors and organizations are pushing the anti-fraud market into a new generation of sophisticated behavior-based pattern recognition systems that detect criminal activities in near real time."
The company stated that membership in the Fraud Intelligence Network is offered as an optional subscription service and includes delivery across a trusted, shared network.