How Does Threat Intelligence Help Prevent Fraud?

Enterprise Security Magazine | Thursday, May 05, 2022

Threat intelligence, based on data, provides context — such as who is attacking you, what their capabilities and motivation are, and what indicators of compromise in your systems to look for — to help you make informed security decisions.

FREMONT, CA: Automation and increased connectivity have revolutionized the world's economic and cultural institutions, but they have also introduced threats in the form of cyberattacks. Threat intelligence is information that allows one to prevent or mitigate attacks.

Today's cybersecurity industry faces numerous challenges, including increasingly persistent and devious threat actors, a daily flood of data containing irrelevant information and false alarms from multiple, unconnected security systems, and a lack of skilled professionals.

Some companies try to incorporate threat data feeds into their network but don't know what to do with all that extra data, which adds to the burden of analysts who may lack the tools to decide what to consider and ignore.

A cyber threat intelligence solution can address these concerns. The best solutions integrate the existing solutions using machine learning to automate data collection and processing, collect unstructured data from disparate sources, and link the dots by providing factors on indicators of compromise (IoCs) and techniques, threat actors' tactics, and procedures (TTPs).

It is not enough to detect and respond to threats already exploiting systems to keep organization safe. One must also guard against the unauthorized use of data or brand.

Threat intelligence gathered from underground criminal communities provide insight into threat actors' motivations, methods, and tactics, especially when combined with information from the surface web, such as technical feeds and indicators.

Make use of threat intelligence to avoid:

Payment fraud: Monitoring sources such as criminal forums, paste sites, and other forums for the relevant payment card numbers, bank identifier numbers, or specific references to financial institutions can provide early warning of upcoming attacks that could affect the organization.

Data compromise: Cybercriminals routinely upload massive caches of usernames and passwords to paste sites and the dark web or sell them on underground marketplaces. Threat intelligence should be used to monitor these sources for leaked credentials, corporate data, or proprietary code.

Typosquatting: Receive real-time alerts when new phishing and typosquatting domains are registered, preventing cybercriminals from impersonating a brand and defrauding unsuspecting users.

Threat intelligence can provide transparency into the threat environments of the third parties with whom firms collaborate, providing real-time alerts on threats and changes to their risks, and providing the context one require evaluating relationships.