The ThreatMetrix report highlights the popularity of using the business logic encoded into websites against the business, mostly in the form of creating phony accounts, taking over existing accounts, scraping valuable information and denying service to other users. Cybercriminals cash in by using seemingly legitimate accounts in seemingly legitimate ways. It is much easier than discovering a vulnerability, writing exploit code and deploying the attack before traditional defenses can be prepared.
A behavioral approach correlating users, devices and personal characteristics is the only way of detecting fraudulent activity that follows approved business logic. We believe a cloud-based service to be the logical place for securing web activity – an enterprise cannot control all the devices connecting to the website, and the service can more efficiently apply its intelligence to all traffic and instances of enterprise websites. Web behavior analytics is a formative market, but ThreatMetrix has been able to channel its ability to identify users and devices into business benefits for website operations.