In the last few days, a number of tech magazines like Computerworld and PC Advisor have reported that FraudFox VM poses a threat to the security of online businesses AND mdash;especially banks and payment services.
FraudFox VM is a special version of Windows with a heavily modified version of the Firefox browser that runs on VMware's Workstation for Windows or VMware Fusion on OSX. It's for sale on Evolution, the apparent successor to the Silk Road online contraband market, for 1.8 bitcoins, or about $390.
FraudFox VM was created to defeat device recognition, or fingerprinting, which is used in fraud prevention to assess the risk of a device connecting to a business. Web browsers are used to collect data like operating system version, time zone and IP address. Each of these characteristic can be used to assess risk and uncover possible fraud.
So how worried should your business AND mdash;and customers AND mdash;be about this new software? I sat down with Scott Waddell the Chief Technology AND nbsp;Officer of iovation, the fraud prevention experts, to find out what the reality is behind the media headlines.
How reliant are banks and financial institutions on this kind of technology to stop fraudulent transactions these days?cyber criminalscyber fraudfraud preventionidentity fraudonline fraud
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