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multiple layers of defense before you get to the ‘pot of gold.’ Besides the front-end router, you have to get through three different firewalls to get to an encrypted database.”
After all those layers of security, Wain says i2c assumes a fraudster might still break through, so its system is monitored at all times and signals an alert if it detects unusual patterns or behaviors. The last step is a checklist of what to do and who to call in the event of a breach.
The preparedness checklist and continual monitoring are crucial, Wain says, because “every hour could mean a tremendous amount of data stolen.”
n Review systems
Companies must constantly review their systems and they must have the tools to monitor activity within their networks—as well as to en- sure company policies are followed by employees, experts advise.
n Collaborate with colleagues and competitors
The enemy of your enemy is your friend, and several companies in
the prepaid industry, such as FIS, IDology and iovation, emphasize the importance of sharing information that will help everyone fight fraud.
“We try to encourage and facilitate collaboration,” Dancu says. “We do that through our ExpectID identity solution and fraud platform, which
volume 7 • fall 2014
Strike a Balance Between Security... and Convenience.
The majority of your customers are legitimate. So, you want to make it easier for them to access your services, but you also must protect their privacy.
www.IDology.com 866.520.1234
At IDology, we help you strike that balance.
Driving the highest number of legitimate customer activations, identifying as well as deterring
fraud, and meeting compliance regulations - through innovative and collaborative technology solutions.
Request a Demo Today.
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