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This Week in Fraud & Big Data Technology – May 6, 2016 – Fraud & Technology Wire
Here are this week's top stories in fraud and big data technology: Thanks to its huge network of users, Sprint has access to vast amounts of user data. Three years ago it established subsidiary Pinsight Media to investigate ways of capitalizing on that data. Since then it has gone from serving zero to six billion ad impressions per months, based on "authenticated first party data" which it alone has access to. The fact that plain passwords are no longer safe to protect our digital identities is no secret. For years, the use of two-factor authentication (2FA) and multi-factor authentication (MFA) as a means to ensure online account security and prevent fraud has been a hot topic of discussion.
Artificial Intelligence Meets Finance, What's Next?
ETFdb: The Magha CGI 30 index consists of large-cap U.S. equities with an average market cap of about 150 billion. Furthermore, the index is said to comprise socially responsible holdings. What determines if a company is socially responsible or not based on your methodology? In other words, what is the criteria for a company to be included in the index? All corporations give back in some way or another.
Drugs could soon be catapulted across Rwanda attached to DRONES
Patients in the most remote regions of the world may soon be casting their eyes skyward for medical supplies. Delivery company UPS is backing a start-up using drug-dropping-drones in Rwanda to transportlife-saving blood supplies and vaccines. Rather than sending supplies by road, firms are looking to the skies to get the medical supplies to where they are needed, with the automated air deliveries 20 times faster than by land. Delivery company UPS is backing a start-up using drones in Rwanda to transport life-saving blood supplies and vaccines. UPS will provide 800,000 ( 554,000) to a partnership including Gavi, agroup providing vaccines to developing countries, and robotics companyZipline International for drone flights in Rwanda startingin August.
This Startup Wants to Use Drones to Drop Blood, Not Bombs
Everyone seems to have an idea for making them useful--Amazon wants to use them for deliveries, Facebook sees them beaming the Internet to remote areas--but so far it all seems so very outlandish. A California startup called Zipline has a practical plan to use the devices for good. Later this year the company, working with UPS and vaccine distributer Gavi, plans to deploy a fleet of drones in Rwanda, where the machines will deliver medical supplies. The goal is to see 15 autonomous aircraft flying out of a centralized hub make 150 deliveries each day to 21 medical stations throughout the western half of the country. The Rwandan government, which has embraced drone technology and recently approved remarkably progressive guidelines for its use, is working with Zipline to measure the success of the venture.
Identification of refugee influx patterns in Greece via model-theoretic analysis of daily arrivals
The refugee crisis is perhaps the single most challenging problem for Europe today. Hundreds of thousands of people have already traveled across dangerous sea passages from Turkish shores to Greek islands, resulting in thousands of dead and missing, despite the best rescue efforts from both sides. One of the main reasons is the total lack of any early warning-alerting system, which could provide some preparation time for the prompt and effective deployment of resources at the hot zones. This work is such an attempt for a systemic analysis of the refugee influx in Greece, aiming at (a) the statistical and signal-level characterization of the smuggling networks and (b) the formulation and preliminary assessment of such models for predictive purposes, i.e., as the basis of such an early warning-alerting protocol. To our knowledge, this is the first-ever attempt to design such a system, since this refugee crisis itself and its geographical properties are unique (intense event handling, little or no warning). The analysis employs a wide range of statistical, signal-based and matrix factorization (decomposition) techniques, including linear & linear-cosine regression, spectral analysis, ARMA, SVD, Probabilistic PCA, ICA, K-SVD for Dictionary Learning, as well as fractal dimension analysis. It is established that the behavioral patterns of the smuggling networks closely match (as expected) the regular burst and pause periods of store-and-forward networks in digital communications. There are also major periodic trends in the range of 6.2-6.5 days and strong correlations in lags of four or more days, with distinct preference in the Sunday-Monday 48-hour time frame. These results show that such models can be used successfully for short-term forecasting of the influx intensity, producing an invaluable operational asset for planners, decision-makers and first-responders.
Telepresence Robots Will Become Commonplace by 2020
Today, telepresence robots are priced for purchase or rent anywhere between 5,000 to 200,000, Chun says. While his research suggests the telepresence market is valued at 4 billion, he estimates that it's actually about half when factoring in conservative assumptions. Still, there is a lot of promise in the near future. Chun recorded 20 telepresence robot patents in 2014, and projected 36 patents for 2015. Additionally, the United States remains the dominant market, but Chun is seeing expansion in countries in Asia and the Middle East.
Thinking machines
"Computer systems can automatically detect and interpret what is happening on video surveillance cameras; Siri allows anyone to have a personal assistant in their pocket; Watson has beaten two former champions on Jeopardy and Google driverless cars have driven over 500 000km accident-free. Modern technology is increasingly intelligent," says Suren Govender, Accenture Analytics MD. With the growing availability of sensors, better algorithms for data analytics and growing computational power, these intelligent technologies are becoming more prevalent and are being incorporated in everyday life and business. "The cognitive era is about thinking itself – how we gather information, access it and make decisions," notes Hamilton Ratshefola, country GM at IBM South Africa. Cognitive analytics engines have the ability to build knowledge and learn, they understand natural language, reason and interact more naturally with human beings than traditional programmable systems.
Lawsuit accuses Middle East bank of stealing an Orange County entrepreneur's technology
Farooq Bajwa still lives comfortably, up in the hills of San Juan Capistrano in a French chateau-style mansion with views of the Pacific. But his tech company, InfoSpan, and its bustling headquarters in an Irvine office park, are long gone. These days the income from three El Pollo Loco franchises bought two decades ago helps out. The Pakistani immigrant turned entrepreneur earned millions manufacturing computer components in the 1980s and 1990s, but he doesn't blame the dot-com bust for his change of fortune. Rather, he traces it back to a plan he had early last decade for a new business: a text-based payment system that could be used throughout the developing world, particularly for migrant workers to send money home.
Pentagon Intel Chief Seeks Same Unity of Effort as Military Services
With Congress revisiting how Pentagon units share authority under the 1986 Goldwater-Nichols Act, the intelligence agencies under the next presidential administration should likewise review their own unity of effort to become more agile and able to integrate, the top Defense intelligence official said Thursday. "The integration of intelligence of the past 15 years is a journey that is not finished," said Marcel Lettre, undersecretary of Defense for intelligence, at a banquet for agency and industry professionals in the nonprofit Intelligence and National Security Alliance. "I hope the new administration finds clear progress from the last 15 years and takes it on with a mantle of seriousness, or even sees an opportunity to redouble the effort." Lettre, who was sworn in in December to preside over a 17 billion budget, eight components and 110,000 employees, said he also hopes the next administration will "institutionalize and make irreversible" the intelligence community's digital data sharing modernization effort known as the Intelligence Community Information Technology Enterprise (pronounced "eyesight"). "Key critical data sets are the coin of the realm for the intel community," he said.
Fight against credit card fraud gets help from learning machine
In a blitzkrieg attack that took place over 12 hours in late 2012 and early 2013, criminals stole 45-million (U.S.) from two banks by hacking into credit card processing firms in India and the United States, then withdrawing money from ATMs in 27 countries. "In the place of guns and masks, this cybercrime organization used laptops and the Internet," New York attorney Loretta Lynch said at a news conference. "Moving as swiftly as data over the Internet … they became a virtual criminal flash mob, going from machine to machine, drawing as much money as they could, before these accounts were shut down." The mob infiltrated credit card processing firms, stole prepaid Visa and MasterCard debit card account numbers issued by the banks in the Middle-East and programmed them with extreme balances. The account numbers were emailed or texted to cohorts on the ground, who used a device to encode the account numbers onto the magnetic stripes of dummy cards.