Windows 10: Microsoft AI solution to detect mobile bank fraud in less than 2 secs

Brink · Sep 3, 2018

The future of mobile banking is clear. People love their mobile devices and banks are making big investments to enhance their apps with digital features and capabilities. As mobile banking grows, so does the one aspect about it that can be wrenching for customers and banks, mobile device fraud.

Problem: To implement near real-time fraud detection

Most mobile fraud occurs through a compromise called a SIM swap attack in which a mobile number is hacked. The phone number is cloned and the criminal receives all the text messages and calls sent to the victim’s mobile device. Then login credentials are obtained through social engineering, phishing, vishing, or an infected downloaded app. With this information, the criminal can impersonate a bank customer, register for mobile access, and immediately start to request fund transfers and withdrawals.

Artificial Intelligence (AI) models have the potential to dramatically improve fraud detection rates and detection times. One approach is described in the Mobile bank fraud solution guide. It’s a behavioral-based AI approach and can be much more responsive to changing fraud patterns than rules-based or other approaches.

The solution: A pipeline that detects fraud in less than two seconds

Latency and response times are critical in a fraud detection solution. The time it takes a bank to react to a fraudulent transaction translates directly to how much financial loss can be prevented. The sooner the detection takes place, the less the financial loss.

To be effective, detection needs to occur in less than two seconds. This means less than two seconds to process an incoming mobile activity, build a behavioral profile, evaluate the transaction for fraud, and determine if an action needs to be taken. The approach described in this solution is based on:

Feature engineering to create customer and account profiles.

Azure Machine Learning to create a fraud classification model.

Azure PaaS services for real-time event processing and end-to-end workflow.

The architecture: Azure Functions, Azure SQL, and Azure Machine Learning

Most steps in the event processing pipeline start with a call to Azure Functions because functions are serverless, easily scaled out, and can be scheduled.

The power of data in this solution comes from mobile messages that are standardized, joined, and aggregated with historical data to create behavior profiles. This is done using the in-memory technologies in Azure SQL.

Training of a fraud classifier is done with Azure Machine Learning Studio (AML Studio) and custom R code to create account level metrics.

Recommended next steps

Read the Mobile bank fraud solution guide to learn details on the architecture of the solution. The guide explains the logic and concepts and gets you to the next stage in implementing a mobile bank fraud detection solution. We hope you find this helpful and we welcome your feedback.
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Source: Two seconds to take a bite out of mobile bank fraud with Artificial Intelligence | Blog | Microsoft Azure

:)

quietman7 - MVP · Sep 3, 2018

"Detect Safe Browsing" from Easy Solutions

Detect Safe Browsing by Easy Solutions is software designed to protect users from electronic fraud, identity
theft and account hacking. Some web sites (i.e. banking, financial, etc) require Detect Safe Browsing to be installed on all devices used to access their accounts...see

here and
here.

However, it could also be related to adware...see
How to remove “Ads By Safe Browsing” virus.

Brink · Sep 3, 2018

Microsoft’s Mobile Payment Solution Falls Short in Early Testing

Earlier this week, Microsoft began rolling out a new version of its Wallet app for Windows 10 Mobile devices, adding support for Tap to Pay mobile payments. This is good news, but credit card support is currently lacking, rendering the feature useless for many.

To be fair to Microsoft, Tap to Pay support in Windows 10 Mobile is currently available only to Windows Insiders. That means that it won’t be a real world OS feature until the Anniversary update ships on or around July 29, bringing Windows 10 Mobile to version 1607.

By that time, hopefully, more credit and debit cards will be supported. Today, the list is eclectic and pretty short: Bank of America and US Bank are the only major banks supported, while BECU (a Boeing credit union), First Tech, Fifth Third Bank, People’s United Bank, and Virginia Credit Union round are bringing up the rear.

I don’t have any credit or debit cards from those banks. I do have two Chase VISA cards for some reason, but Chase is listed as “coming soon.” But I scanned in six cards—one debit, five credit—just in case. None worked.

That changed my focus, as I was originally going to go out into the world, find a place that wouldn’t mind letting me take a few photos, and actually test this feature in the real world. But with that not happening, I decided to see how Microsoft Wallet compared to competing offerings from Apple and Google...
Click to expand...

Read more: Microsofts Mobile Payment Solution Falls Short in Early Testing - Thurrott.com

Steve C · Sep 3, 2018

AI for security: Microsoft Security Risk Detection makes debut

I'm getting really tired of seeing solutions claiming to use 'AI' but which are just sophisticated 'conventional' algorithms. I suspect the Risk Detection Service is no different.

Windows 10: Microsoft AI solution to detect mobile bank fraud in less than 2 secs

Microsoft AI solution to detect mobile bank fraud in less than 2 secs

Microsoft AI solution to detect mobile bank fraud in less than 2 secs

Microsoft AI solution to detect mobile bank fraud in less than 2 secs

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