Mobile Phone Authentication and Fraud

Day by day, we are getting addicted to the mobile phone especially smart phone since smart phone performs many of the functions of a computer, typically having a touch screen interface, Internet access. With the extensive growth of mobile applications, we can utilize various mobile applications starting from games to financial transaction including stock market brokerage. Many banks have launched their own mobile applications so that customer can download and start financial transactions like balance amount verification, money transfer etc. The adoption of mobile usage and the drastic increases in functionality have combined to create new risks. As the mobile channels are increasingly becoming the preferred method of banking and payments, many of mobile phone users now a days are becoming victim of cyber attackers, financial fraudsters. Many mobile manufacturing companies now a days, are providing bio-metric authentication facilities such as fingerprint, face and voice recognition along with traditional password and draw pattern on touch screen. Due to rapid advancement of technology, we are capable to look at specific cognitive parameters, behavioral bio-metric authentication. By leveraging above, banks are protecting users from cyber attacks, fraudsters. Of course without impacting the end user experiences.

Few products have been developed using which mobile users profile can be created. In those profile information, no personal information are included. Instead scrolling pattern on touch screen, device holding pattern, hand size, information gather from Accelerometer are captured. It is a feature where we can capture device motion in the x, y, and z direction.

The mobile device can validate all the above before provide access to the mobile applications and protect the user from cyber attacker, financial fraudsters. Presently, the company named BioCatch has developed and released commercial software products to address above.