Enterprise Mobility Management / BYOD

The Rapid Rise of Mobile Fraud

RSA's Angel Grant on How to Work with Customers to Curb Losses

In just two years' time, RSA analysts have seen a 170 percent rise in incidents of fraud via the mobile channel. What's behind the spike, and what can security leaders do to help their organizations and customers curb fraud losses?

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Angel Grant, a principal manager at RSA, discusses the surge and how to respond to it in this video interview.

To put the 170 percent increase in some context, Grant offers color commentary: "170 percent is pretty dramatic, and when you break it down today, the amount of fraud transactions we see ... 60 percent of all the fraud transactions we see come from the mobile channel."

And within that 60 percent, she adds, the latest trend is to see more fraudulent transactions via mobile apps rather than mobile browser.

Beyond the rise in mobile fraud, Grant also is concerned about recent ransomware incidents, as well as the growing trend of fraudsters targeting specific individuals. "A lot of times, individuals are being targeted in their personal lives, so they can be [pursued] in their professional lives, too, so we're seeing those types of blended attacks," she says.

In an interview at the Boston Fraud and Breach Prevention Summit, Grant discusses:

  • The latest fraud trends;
  • Four best practices to fight fraud;
  • How to empower users and customers to fight back against fraudsters.

Grant is a principal manager in RSA, The Security Division of EMC's Identity Protection and Verification group. She has more than 15 years of experience in the security and financial services industries and is responsible for a variety of initiatives which protect organizations against fraud and identity theft. Prior to joining RSA, she was an online banking senior product manager at P&H Solutions, where she helped launch one of the industry's first online corporate cash management applications. Previously, she managed a mortgage division inside sales and service team for a large financial institution.

About the Author

Tom Field

Tom Field

Senior Vice President, Editorial, ISMG

Field is responsible for all of ISMG's 28 global media properties and its team of journalists. He also helped to develop and lead ISMG's award-winning summit series that has brought together security practitioners and industry influencers from around the world, as well as ISMG's series of exclusive executive roundtables.

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