At YourStory’s Future of Work event, neoEYED's Tamaghna Basu spoke at length about detecting and fighting fraud in the fast-growing online world through behavioural analysis.
The world has changed. We live in an age where technology has pervaded every aspect of our personal and work life. Google, Facebook and Alexa are aware of aspects of our lives that we have forgotten ourselves. And with every good comes an equal helping of bad, with technology also making it possible for hackers and scamsters to target unsuspecting netizens.
“Password security has become pointless, OTPs are not safe anymore, and biometrics suffer from usability issues and accessibility problems.”
After working for Walmart and eBay as a security engineer, Tamaghna has carried forward his wealth of experience by starting his own company. NeoEYED uses AI and behavioural analysis to secure consumers’ digital accounts and data. He spoke at length about how behavioural analysis can help identify anomalies in an organisation's security system and can raise timely alerts for immediate actions.
While explaining the issue of using one simple password across multiple accounts, Tamaghna said that easy passwords can be hacked in just 20 attempts. “While it is common for us to share passwords with spouse, colleagues and friends, the problem does not lie in sharing the password, but in its storage,” he added.
Talking about various types of behavioural analysis that can be used for protecting data and accounts, Tamghna said that brain patterns, walking patterns, signature verification, and keystroke dynamics can go a long way to secure online accounts of consumers and users.
The highlight of the talk was the subject of data familiarity that can be exploited to identify online frauds. Certain data are more familiar to consumers, Tamaghna said, adding, “There is data like PAN that netizens remember clearly, and there are certain others like the passport number that poses a lack of data familiarity.” So when a fraudster fills in the forms using the keyboard, artificial intelligence can be used to find out the typing speed. And since they would take longer to enter even familiar data like PAN, the tech will alert the system that there is an anomaly.
A big shout out to Future of Work 2019 sponsors – Deployment partner Harness.io, Super partner GO-JEK, our Women-in-Tech partner ThoughtWorks, Voice Tech partner Slang Labs, Technology partner Techl33t, AI/ML partner Agara Labs, API Partner Postman and Blockchain partner Koinex.
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