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And at a popular site like ING Direct, fraudsters are always trying to find holes; To stop them, the U.S. online banking unit of ING Group is trying to learn from those failures to better prepare for the next onslaught.
October 1
MasterCard Inc. and software company Silver Tail Systems Inc. announced a partnership that will bring the latter's fraud-fighting analytics to MasterCard merchants.
Silver Tail's technology performs risk analysis by examining patterns of online behavior and comparing them to normal Web-browsing patterns. In this way, the Menlo Park, Calif., vendor's technology can locate automated attempts by bots and botnets as they probe weaknesses of commerce and online banking sites.
"Silver Tail brings a dimension to the risk profile that is not visible to MasterCard right now," says Johan Gerber, group head of global network products for MasterCard Worldwide MasterCard, of Purchase, N.Y., did not offer details about when the two companies would begin offering their combined products and services to merchants.
"The traditional analytics engine doesn't have this visual capability, and this click-and-point interface, but many [fraud platforms] are moving in this direction," says Philip J. Blank, senior analyst for security, risk and fraud at Javelin Strategy & Research.
