Access "Interview: PayPal CISO Michael Barrett"
This article is part of the May 2007 issue of Nine tips to guarding your intellectual property
How does PayPal defend against phishing? One of the back-end defenses we have is a lot of fraud modeling. It's very advanced, and it's resulted in extremely low fraud rates compared to the rest of the financial services industry. We've gotten very good at detecting fraud on the back end, so what's [the phishers'] response? They generate more mail on the front end. Can you quantify losses due to phishing for PayPal? Forty-one basis points is the total fraud number [on PayPal's fraud model], and we don't break out where phishing is in that overall mix. I will say, it isn't very high on that list. That's one of the issues here--there is a perception there is a huge problem, whereas the financials don't indicate that. How much can you share about your fraud models? They're internally developed. We don't talk about what they do, because this is an area where the more you disclose about what the models are looking for, the more you're telling the bad guy how to evade them. I can say, they're broad-based, real-time front- and back-end inspection models. They look ... Access >>>
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