Mobile financial fraud is on the rise. In fact, research shows that mobile fraud transactions have increased by 600% in just three years. And, now, one third of all fraud attacks are targeting mobile devices.
To combat this and protect consumers, Lookout and buguroo are partnering to provide a holistic mobile app defense and fraud protection solution. Together, the partnership provides enterprises with threat detection across the entire mobile attack surface (compromised devices, malware, unsafe networks, etc.) while complementing it with behavioral biometrics and online fraud detection across channels.
Lookout App Defense detects various types of cyber threats that can lead to account takeovers such as credential theft, data leakage, and fraud on the mobile app. The Lookout Security Cloud has analyzed over 70 million mobile apps globally, delivering mobile app protection to counter device compromise, user impersonation, trojanized versions of legitimate apps and network attacks, overlay attacks and data leaks.
"We are excited to announce this partnership with buguroo",
"This partnership provides customers the ability to enhance the security posture of their mobile apps, as well as enrich their fraud and risk scores, both of which are needed to combat data compromise and fraud across web and mobile channels".
said Satendar Bhatia, SVP of Embedded Software Sales at Lookout.
buguroo analyzes thousands of parameters collected from the user’s behavior biometric, devices and environment (finger size, pressure, speed, gestures, typing fluency, gyroscope position, OS, geolocalization, etc.) to build a unique profile per user, in order to detect deviations or anomalies in the customer’s behavior to identify any attack attempt. The result of this analysis translates into a real time Risk analysis rate on the session, which makes it possible to take the correct action regarding suspicious or anomalous user behaviors.
The result of this analysis translates into a real time Risk analysis rate on the session, which makes it possible to take the correct action regarding suspicious or anomalous user behaviors.
"Companies will have full online fraud protection while improving their end user experience by reducing enrollment processes and Multi-Factor authentication challenges".
said Pablo de la Riva, CEO and Founder of buguroo.