Bredemarket reserves the right to revisit topics I visited before.
Imagine an alternative universe in which a single human body had ten (different) faces and only one finger.
How accurate would facial recognition be?
How accurate would fingerprint identification be?
Think about the ramifications.
Ten faces, one finger.
Credit for this thought, not original to me, must still remain anonymous.
But if you would like to discuss your biometric marketing and writing needs with a biometric product marketing expert, fill out the “free 30 minute content needs assessment” form on the page linked below to schedule a free conversation.
Bredemarket is not expert in anti-human trafficking campaigns, but several of Bredemarket’s clients and former clients have used biometrics to combat human trafficking and rescue the victims.
Francesco Fabbrocino of Dunmor presented at today’s SoCal Tech Forum at FoundrSpace in Rancho Cucamonga, California. His topic? Technology in FinTech/Fraud Detection. I covered his entire presentation in a running LinkedIn post, but I’d like to focus on one portion here—and my caveat to one of his five rules of fraud detection. (Four-letter word warning.)
The five rules
In the style of Fight Club, Fabbrocino listed his five rules of fraud detection:
1. Nearly all fraud is based on impersonation.
2. Never expose your fraud prevention techniques.
3. Preventing fraud usually increases friction.
4. Fraud prevention is a business strategy.
5. Whatever you do, fraudsters will adapt to it.
All good points. But I want to dig into rule 2, which is valid…to a point.
Rule 2
If the fraudster presents three different identity verification or authentication factors, and one of them fails, there’s no need to tell the fraudster which one failed. Bad password? Don’t volunteer that information.
In fact, under certain circumstances you may not have to reveal the failure at all. If you are certain this is a fraud attempt, let the fraudster believe that the transaction (such as a wire transfer) was successful. The fraudster will learn the truth soon enough: if not in this fraud attempt, perhaps in the next one.
But “never” is a strong word, and there are some times when you MUST expose your fraud prevention techniques. Let me provide an example.
Biometric time cards
One common type of fraud is time card fraud, in which an employee claims to start work at 8:00, even though he didn’t show up for work until 8:15. How do you fool the time clock? By buddy punching, where your friend inserts your time card into the time clock precisely at 8, even though you’re not present.
Enter biometric time clocks, in which a worker must use their finger, palm, face, iris, or voice to punch in and out. It’s very hard for your buddy to have your biometric, so this decreases time clock fraud significantly.
And you fail to inform the employees of the purpose for collecting biometrics, and obtain the employees’ explicit consent to collect biometrics for this purpose.
In a case like this, or a case in a jurisdiction governed by some other privacy law, you HAVE to “expose” that you are using an individual’s biometrics as a fraud prevention techniques.
But if there’s no law to the contrary, obfuscate at will.
Communicating your anti-fraud solution
Now there are a number of companies that fight the many types of fraud that Fabbrocino mentioned. But these companies need to ensure that their prospects and clients understand the benefits of their anti-fraud solutions.
That’s where Bredemarket can help.
As a product marketing consultant, I help identity, biometric, and technology firms market their products to their end clients.
And I can help your firm also.
Read about Bredemarket’s content for tech marketers and book a free meeting with me to discuss your needs.
I’m jumping ahead in the year-end post ridiculousness to cite Bredemarket’s two most notable accomplishments this year. Not to detract from my other accomplishments this year, but these two were biggies.
The second was my go-to-market effort for a Bredemarket client in September, which I discussed (without mentioning my participation) here. And there’s a video for that effort also.
Recent go-to-market.
I’ve accomplished many other things this year: client analyses, blog posts (both individually and in series), consultations, presentations, press releases, proposals, requirements documents, sales playbooks, and many more.
And I still have three more weeks to accomplish things.
Bredemarket 