SecurityBrief New Zealand logo
New Zealand's leading source of cybersecurity and cyber-attack news
Story image

Kiwi partnership keeping a 'vigilant' eye on fraudsters

By Sara Barker
Tue 26 Jun 2018
FYI, this story is more than a year old

The University of Waikato and fraud detection software firm Vigilance are working together on a way to create a fraud detection tool that can spot data anomalies in a faster and more accurate way.

University data scientists have been working on their own tool to analyse data, but now the combination of Vigilance technology will enable the partners to build a full fraud detection solution.

Vigilance chief executive officer Sam MacGeorge says the tool is able to provide analysis through the use of infographics, which means it’s easier to guide customers through anomalies or suspicious activities generated from transactional data. It can also rule out false positives.

"While some systems claim to be using artificial intelligence (AI) to analyse transactions, this is the most sophisticated tool available in New Zealand,” comments MacGeorge.

“Categorising data accurately is at the forefront of accurate machine learning. This new tool has given us a better lens to analyse large quantities of a customer’s data and unusual patterns of behaviour much faster.”

University of Waikato researcher Dr Ryan Ko is one of the security experts behind the $12.2 million government-funded STRATUS programme.

The programme is a six-year cybersecurity project funded by the Ministry of Business, Innovation and Employment (MBIE) and driven by a number of security and practitioners from the University of Waikato, University of Auckland, Unitec Institute of Technology and Cloud Security Alliance. 

It aims to create a suite of security tools, techniques, and capabilities that return data control back to cloud computing users.

“The outputs will help empower users to be able to control the security of their data in the Cloud and give companies tools and services to sell,” comments Ko.

“Vigilance is one of the first companies we have worked with that has used the Anomalies Detection Framework and then gone on to further expand its capability for its own fraud detection and AML purposes.”

The initial framework, along with other tools for privacy of data during processing and storage, has potential applications in many fields outside financial data, and the University of Waikato is working with other partners to commercialise it in those fields.

Vigilance describes itself as a software as a service (SaaS) that ensures robust payment review and authorization processes exist within your organisation, thereby minimising the risk of financial loss.

The software operates in real-time to identify questionable payee and bank information at the point proposed payments are being prepared for final approval. This catches any tampering prior to this point and leaves no time for fraudsters to change information at the last minute during the approval process.

Related stories
Top stories
Story image
Amazon Web Services / AWS
Zscaler, AWS accelerate onramp to the cloud with zero trust
Zscaler has announced an extension to its relationship with Amazon Web Services, as well as innovations built on Zscaler's Zero Trust architecture.
Story image
Cybersecurity
Aqua Security, CIS create software supply chain security guide
Aqua Securityand the Center for Internet Security have together released the industry’s first formal guidelines for software supply chain security.
Story image
Cybersecurity
Threat actors ramp up their social engineering attacks
As people get better at identifying potential threats in their inbox, threat actors must evolve their methods. Their new M.O? Social engineering.
Story image
Cybersecurity
Significant security concerns resulting from open source software ubiquity
"The risk is real, and the industry must work closely together in order to move away from poor open source or software supply chain security practices."
Story image
Cybersecurity
BlackBerry launches new Zero Trust Network Access
BlackBerry has unveiled its latest AI-driven security offering, Zero Trust Network Access with CylanceGATEWAY.
Story image
Manufacturing
Cyber attacks on industrial assets cost firms millions
Some 89% of electricity, oil & gas, and manufacturing firms have experienced cyber attacks impacting production and energy supply over the past year.
Story image
Cloud
QuSecure partners with DataBridge Sites to showcase platform
QuSecure has partnered with DataBridge Sites to showcase its Quantum-as-a-Service (QaaS) orchestration platform, QuProtect.
Story image
Cybersecurity
Snowflake launches new cybersecurity workload for the data cloud
Snowflake has announced the launch of a new cybersecurity workload that enables cybersecurity teams to better protect their enterprises with the data cloud. 
Story image
Identity and Access Management
Ping Identity launches corporate venture capital fund
Ping Identity has launched a corporate venture capital fund to foster innovative offerings for the identity security market.
Story image
Network Security
Netskope announces zero trust network access updates
Customers can now apply zero trust principles across a range of hybrid work security needs, including SaaS, IaaS, private applications, and endpoint devices.
Story image
Privileged Access Management / PAM
Delinea unveils new Secret Server features and improvements
Delinea has announced new features and enhancements to expand the capabilities of its Secret Server, including design updates and new security controls.
Story image
Zscaler
Securonix partners with Snowflake, Zscaler in joint venture
Securonix is embarking on a joint technology integration with Snowflake and Zscaler to speed up threat detection and response at cloud scale.
Story image
APAC
Aqua Security launches cloud native security SaaS in APAC
Aqua Security has announced the general availability of cloud native security SaaS in Singapore, serving the broader APAC region.
Story image
Manufacturing
Sternum joins NXP, collaborates on IoT security and observability
Sternum has announced it has joined the software partner community of NXP Semiconductors, a manufacturer of and large marketplace for embedded controllers.
Story image
Cybersecurity
Ingram Micro launches vendor-backed security program
Ingram Micro has unveiled a new program intended to give resellers the effective offerings their customers need to stay safe in the evolving threat landscape.
Story image
Cybersecurity
New survey uncovers critical OT security challenges
While industrial control environments continue to be a target for cyber criminals, there are widespread gaps in industrial security.
Story image
Secure access service edge / SASE
Cloudflare adds new capabilities to zero trust SASE platform
New features for Cloudflare One include email security protection, data loss prevention tools, cloud access security broker, and private network discovery.
Story image
Digital Transformation
Cybersecurity priorities for digital leaders navigating digital transformation
In recent years, Asia-Pacific has especially been a hotspot for cyberattacks, and as we continue into 2022, it’s evident that the problem is becoming more significant.
Story image
Cybersecurity
Greater API usage raises concerns for protection - report
Radware has released its 2022 State of API Security report, which shows a rise in APIs, with 92% of the organisations surveyed significantly or somewhat increasing their usage.
Story image
API
Industry-first comprehensive risk-based API security enhances protection
Application Programming Interfaces (APIs) have become a crucial part of operating web and mobile application businesses and are causing significant economic growth in the digital sector.
Story image
Dark web
Cybercrime in Aotearoa: How does New Zealand law define it?
‘Cybercrime’ is a term we hear all the time, but what exactly is it, and how does New Zealand define it in legal terms?
Story image
Robotic Process Automation / RPA
rapidMATION helps Coates achieve success with landmark RPA solution
A strong Robotic Process Automation solution (RPA) can help solve many complex issues that businesses face daily. 
Story image
Collaboration
Why the success of client collaboration projects depends on addressing these five warning signs
New tools, applications, and software have enabled project collaboration to continue remotely, both between employees within an organisation and with its clients.
Story image
Apple
LastPass announces new capability for iPhones and iPads
LastPass has announced its new save and fill experience, allowing customers to fill in, create and save their credentials directly within the site's form field.
Story image
Cloud
SonicWall recognises partners and distributors at FY2022 partner awards
SonicWall has recognised its distributors and partners for their efforts in producing the company’s most successful year to date.
Story image
Ransomware
Rapid7 report examines use of double extortion ransomware attacks
New insight into how attackers think when carrying out cyber attacks, along with further analysis of the disclosure layer of double extortion ransomware attacks, has come to light.
Story image
Cybersecurity
ConnectWise reveals cybersecurity updates and partnerships
ConnectWise has unveiled new updates to its services and highlighted the importance of cyber insurance at its IT Nation Secure conference.
Story image
Ransomware
More than 90% of cyber attacks made possible by human error
The data are clear, with cyberattacks on the rise in recent years and the cybersecurity situation increasingly complex. 
Story image
INTERPOL
Hundreds arrested, millions seized in global INTERPOL investigation
A two-month-long investigation by INTERPOL this year involved 76 countries and clamped down on organised crime groups behind telecommunications and social engineering scams.
Story image
Cybersecurity
Schneider Electric and Claroty launch building security solution
Schneider Electric has announced the launch of Cybersecurity Solutions for Buildings, a solution designed to help buildings customers secure BMS.
Story image
10 Minute IT Jams
Video: 10 Minute IT Jams - An update from Rimini Street
Today we welcome back Daniel Benad, who is the GVP & regional GM for Oceania at Rimini Street.
Story image
Cybersecurity
Why is NZ lagging behind the world in cybersecurity?
A recent report by TUANZ has revealed that we are ranked 56th in the world when it comes to cybersecurity - a look into why we're so behind and what needs to be done.
Story image
Collaboration
IT and security team collaboration crucial to data security
Many IT and security decision makers are not collaborating as effectively as possible to address growing cyber threats.
Story image
APAC
Digital resilience big concern for 95% of APAC businesses
A10 Networks finds of the 250 APAC businesses surveyed, 95% of them are very concerned about all aspects of enterprise digital resilience.
Story image
Cybersecurity
Palo Alto Networks named Google Cloud technology partner of the year for security
Palo Alto Networks was recognised for helping organisations rapidly transform security operations for future success.
Story image
Wavelink
How Wavelink fosters creativity and careers in the channel
Wavelink is a 100% channel business, with all sales flowing through its authorised reseller partners. It has been a B2B technology distributor for almost 24 years and offers a broad range of software across cybersecurity, mobility, networking, and healthcare.
Story image
SaaS
Varonis strengthens security capabilities for AWS and S3
Varonis has strengthened and expanded its cloud and security capabilities, with a critical aim of improving safety and boosting data visibility in Amazon Simple Storage Service (S3).
Story image
DDoS
Q1 DDoS and application attack activity reveals surprise result
The cybersecurity threat landscape in the first quarter of 2022 represented a mixed bag of old enemies and new foes. New actors dominated the DDoS threat landscape while application security faced tried-and-true attack vectors.
Story image
SaaS
Commvault's SaaS division experiences notable growth
Commvault has revealed the global momentum that its SaaS division Metallic has experienced since its launch two years ago.
Story image
eInvoicing
Airwallex, Xero extend partnership with easier invoice payments
Airwallex has extended its long-term partnership with Xero by releasing a new payment link integration for Xero invoices that will make receiving them easier and faster for Australian businesses.
Story image
DDoS
Flashpoint unveils security offering for school boards
Flashpoint has released its K-12 risk management and security offering to provide school boards and education security practitioners with tools to recognise, prevent and manage cyber and physical threats.
Story image
PagerDuty
Ready for anything with the PagerDuty Operations Cloud
In a world of digital everything, teams face increasing complexity. Ever-growing dependencies across systems and processes put customer and employee experience, not to mention revenue, at risk.
Story image
Cybersecurity
Trend Micro unveils dedicated security for electric vehicles
The cybersecurity company has announced VicOne - dedicated security for the electric vehicles and connected cars of today and tomorrow.
Story image
Data Protection
Thales solution supports DevSecOps teams with data protection
Thales' CipherTrust Platform Community Edition enables DevSecOps teams to deploy data protection controls into multi-cloud applications faster.