Machine Learning and the Dark Web: Next Generation Fraud Defense Strategies
Brian J. DuCharme
Vice President, Head of Product & Innovation, STAR Network
SVP/GM Security and Fraud Solutions, First Data Corporation
Staying ahead of fraudsters takes diligence and a commitment to keeping your technologies three steps ahead of the market.
Steve Petrevski and Brian DuCharme from First Data will lead a lively discussion on how to turn the table on the bad guys, using tools like machine learning and new sources of data to keep fraud at bay. Petrevski, who leads First Data’s security and fraud team, and DuCharme, who leads product and innovation for the STAR Network, will detail how the convergence of machine learning, talent and data is a more effective way to address wide-scale fraud in the financial system.
Solutions that only focus on technology, such as a black-box fraud engine, suffer from reduced effectiveness over time as fraudsters change their methods to beat the system. Firms need talent to administer the fraud process, but without the appropriate technology and tools to analyze and decrypt data found in the Dark Web, they are slow to react and cannot scale. In order for either of those to be successful, they need to consume and make decisions on massive amounts of structured and unstructured data in real time.