Using Cloud-Based, GPU-Accelerated AI to Track Identity Fraud

June 27, 2022

Consumers use many accounts for financial transactions, ordering products, and social media—a customer’s identity can be stolen using any of these accounts. Identity fraud can happen when setting up or using financial accounts, but it can also occur with communications such as audio, images, and chats.

According to Business Wire, “While total combined fraud losses climbed to $56 billion in 2020, identity fraud scams accounted for $43 billion of that cost. Businesses need to have a way of protecting their users even when their identity has been compromised.”

“With the exponential growth of customers’ digital transaction data, the traditional rule-based fraud detection methods are having increasing difficulty meeting the requirement. Artificial intelligence (AI) can augment the existing rule-based models and strengthen human fraud analysts significantly, which can improve accuracy and efficiency while reducing costs,” states Meng Lie, Analyst, Forrester.

What Are Identity Theft and Identity Fraud?

According to the US Department of Justice, “Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain.”

How cloud-based, GPU-accelerated AI meets identity fraud needs

Artificial intelligence (AI), machine learning (ML), or deep learning (DL) models are increasingly being used to analyze transaction and login data to help protect customers and financial organizations from identity fraud. AI models can analyze large volumes of data and recognize anomalous patterns in that data suggesting fraud.

Running AI models used in identity fraud prevention requires huge computational resources. NVIDIA graphics processing units (GPUs) provide processing power for AI, ML, or DL models that cannot be matched by central processing units (CPUs).

Microsoft and NVIDIA have a long history of working together to support financial institutions in detecting and preventing fraud. Using Microsoft Azure cloud and NVIDIA AI provides scalable, accelerated resources needed to run AI/ML/DL algorithms, routines, and libraries.

The partnership between Microsoft and NVIDIA makes NVIDIA’s powerful GPU acceleration available to financial institutions. Azure supports NVIDIA’s T4 Tensor Core Graphics Processing Units (GPUs), which are optimized for the cost-effective deployment of machine learning inferencing or analytical workloads. The Azure Machine Learning service integrates the NVIDIA open-source RAPIDS software library that allows machine learning users to accelerate their pipelines with NVIDIA GPUs. The NVIDIA platform provides powerful adaptive AI inferencing tools to identify fraud patterns in massive volumes of data in real time.

Trends in AI usage to prevent fraud

According to Kevin Levitt, NVIDIA Director of Industry and Business Development for Financial Services, “Financial institutions will invest heavily in AI to fight fraud and adhere to compliance regulations such as KYC (Know Your Customer) and AML (Anti-Money Laundering). Some are using a customer’s unique voice to authenticate online transactions, while others are turning to eye biometrics for authentication. Graph neural networks are at the forefront of the new techniques AI researchers and practitioners at financial institutions are using to understand relationships across entities and data points. They’ll become critical to enhancing fraud prevention and to mapping relationships to fight fraud more effectively.”

Microsoft Solutions to Prevent Identity Fraud

Microsoft Dynamics 365 Fraud Protection is a product created by Microsoft as a comprehensive fraud protection solution. Microsoft Dynamics 365 Fraud Protection and Microsoft Azure Active Directory work well together to provide customers a comprehensive authentication seamless access experience. Important fraud discovery and prevention techniques incorporated include:

  • Device fingerprinting: The tool uses device telemetry before a customer logs in or accesses an account to identify the device that is being used with hardware information, browser information, geographic information, and the Internet Protocol (IP) address. This information can be compared against the computer system typically used by the customer.
  • Bot detection: Advanced adaptive artificial intelligence (AI) is used to generate a score that is mapped to the probability that a bot is initiating the event rather than a person. This helps detect automated attempts to use compromised credentials or brute force Distributed Denial-of-Service (DDoS) attacks.
  • Frequency of Event (Velocity): How frequently a transaction occurs helps determine if there is suspicious activity and possible fraud. For example, is a single credit card or many credit cards used from a single IP address to place many orders in a short period of time?
  • Account protection: Adaptive AI helps a merchant determine if a bot is using automated attempts to create fake accounts or to compromise existing accounts. The AI solution provides a score that maps to the probability that a bot is initiating the event. Merchants can use the score with the rules they’ve configured to block automated fraudulent account creation and login attempts or add another method of verification on suspicious attempts such as sending an automated text, chat, or phone call to the customer.
  • Risk-based Authentication: Most users have a normal behavior that can be tracked. If a user’s login is unusual, it could be risky to allow them to successfully sign in. Organizations can choose to block the login attempt or require multi-factor authentication. Azure Active Directory B2C risk-based authentication will challenge login attempts that are over the defined risk threshold while allowing normal logins to proceed unhampered.

The FIS Memento solution is also useful in locating identity fraud. This tool provides protection in real time using a combination of rules, AI, ML, and statistical techniques to detect and prevent fraud in banking and payments channels. FIS Memento is offered as an on-prem or Azure Cloud based solution.

Summary

Financial institutions need adaptive AI technology to address the ever-increasing complexity of identity fraud. Microsoft and NVIDIA provide advanced hardware, cloud, AI, and software solutions for financial institutions that locate potential identity fraud to help protect customers.

Return to Solution Channel Homepage
Subscribe to HPCwire's Weekly Update!

Be the most informed person in the room! Stay ahead of the tech trends with industy updates delivered to you every week!

12 Midwestern Universities Team to Boost Semiconductor Supply Chain

August 8, 2022

The combined stressors of Covid-19 and the invasion of Ukraine have sent every major nation scrambling to reinforce its mission-critical supply chains — including and in particular the semiconductor supply chain. In th Read more…

Quantum Pioneer D-Wave Rings NYSE Bell, Begins Life as Public Company

August 8, 2022

D-Wave Systems, one of the early quantum computing pioneers, has completed its SPAC deal to go public. Its merger with DPCM Capital was completed last Friday, and today, D-Wave management rang the bell on the New York St Read more…

Supercomputer Models Explosives Critical for Nuclear Weapons

August 6, 2022

Lawrence Livermore National Laboratory (LLNL) is one of the laboratories that operates under the auspices of the National Nuclear Security Administration (NNSA), which manages the United States’ stockpile of nuclear we Read more…

SEA Changes: How EuroHPC Is Preparing for Exascale

August 5, 2022

Back in June, the EuroHPC Joint Undertaking — which serves as the EU’s concerted supercomputing play — announced its first exascale system: JUPITER, set to be installed by the Jülich Supercomputing Centre (FZJ) in 2023. But EuroHPC has been preparing for the exascale era for a much longer time: eight months before... Read more…

HPC Career Notes: August 2022 Edition

August 5, 2022

In this monthly feature, we’ll keep you up-to-date on the latest career developments for individuals in the high-performance computing community. Whether it’s a promotion, new company hire, or even an accolade, we’ Read more…

AWS Solution Channel

Shutterstock 1590905653

Expanded filesystems support in AWS ParallelCluster 3.2

Data is critical to HPC, and ensuring your simulations have the data they need — when they need it — is essential. However, data can originate from many sources and need to be consumed by diverse resources. Read more…

Microsoft/NVIDIA Solution Channel

Shutterstock 1731567844

Using Cloud-Based, GPU-Accelerated Systems for AML Fraud Detection

A major issue facing financial services organizations is tracking fraud due to money laundering. Trying to track money laundering is an expensive and time-consuming process due to the large volumes of financial data which must be analyzed. Read more…

Sniff Test: Supercomputer Research Investigates Odor Neutralizers

August 4, 2022

Factories, farms and landfills are functionally essential to our daily lives, but the less-than-desirable smells they often produce may be somewhat less necessary. Researchers from the University of New Orleans, the Louisiana Department of Environmental Quality, and the Jefferson Parish Department of Environmental Affairs in Jefferson, Louisiana... Read more…

SEA Changes: How EuroHPC Is Preparing for Exascale

August 5, 2022

Back in June, the EuroHPC Joint Undertaking — which serves as the EU’s concerted supercomputing play — announced its first exascale system: JUPITER, set to be installed by the Jülich Supercomputing Centre (FZJ) in 2023. But EuroHPC has been preparing for the exascale era for a much longer time: eight months before... Read more…

Not Just Cash for Chips – The New Chips and Science Act Boosts NSF, DOE, NIST

August 3, 2022

After two-plus years of contentious debate, several different names, and final passage by the House (243-187) and Senate (64-33) last week, the Chips and Science Act will soon become law. Besides the $54.2 billion provided to boost US-based chip manufacturing, the act reshapes US science policy in meaningful ways. NSF’s proposed budget... Read more…

CXL Brings Datacenter-sized Computing with 3.0 Standard, Thinks Ahead to 4.0

August 2, 2022

A new version of a standard backed by major cloud providers and chip companies could change the way some of the world's largest datacenters and fastest supercomputers are built. The CXL Consortium on Tuesday announced a new specification called CXL 3.0 – also known as Compute Express Link 3.0... Read more…

Inside an Ambitious Play to Shake Up HPC and the Texas Grid

August 2, 2022

With HPC demand ballooning and Moore’s law slowing down, modern supercomputers often undergo exhaustive efficiency efforts aimed at ameliorating exorbitant energy bills and correspondingly large carbon footprints. Others, meanwhile, are asking: is min-maxing the best option, or are there easier paths to reducing the bills and emissions of... Read more…

UCIe Consortium Incorporates, Nvidia and Alibaba Round Out Board

August 2, 2022

The Universal Chiplet Interconnect Express (UCIe) consortium is moving ahead with its effort to standardize a universal interconnect at the package level. The c Read more…

OpenCAPI to Be Folded into CXL

August 1, 2022

As the need for speed drives computational workloads, more standards organizations are coalescing around a standard called Compute Express Link – also known a Read more…

US CHIPS Act Close to Being Signed into Law

July 28, 2022

The U.S. House today passed the CHIPS and Science Act of 2022, which authorizes $280 billion in funding to boost semiconductor research and production in the country. The passage of the bill paves the way for U.S. president Joe Biden to sign the legislation into law, which would officially open up funding... Read more…

GE Research Enters the Exascale Era

July 28, 2022

The pitch for GE Research is easy, as Richard Arthur, senior director of computational methods research for GE Research, explained at the latest meeting of the DOE’s Advanced Scientific Computing Advisory Committee (ASCAC): a third of the electrons in the world that flow through devices are generated on GE equipment; every two seconds... Read more…

Nvidia R&D Chief on How AI is Improving Chip Design

April 18, 2022

Getting a glimpse into Nvidia’s R&D has become a regular feature of the spring GTC conference with Bill Dally, chief scientist and senior vice president of research, providing an overview of Nvidia’s R&D organization and a few details on current priorities. This year, Dally focused mostly on AI tools that Nvidia is both developing and using in-house to improve... Read more…

Royalty-free stock illustration ID: 1919750255

Intel Says UCIe to Outpace PCIe in Speed Race

May 11, 2022

Intel has shared more details on a new interconnect that is the foundation of the company’s long-term plan for x86, Arm and RISC-V architectures to co-exist in a single chip package. The semiconductor company is taking a modular approach to chip design with the option for customers to cram computing blocks such as CPUs, GPUs and AI accelerators inside a single chip package. Read more…

The Final Frontier: US Has Its First Exascale Supercomputer

May 30, 2022

In April 2018, the U.S. Department of Energy announced plans to procure a trio of exascale supercomputers at a total cost of up to $1.8 billion dollars. Over the ensuing four years, many announcements were made, many deadlines were missed, and a pandemic threw the world into disarray. Now, at long last, HPE and Oak Ridge National Laboratory (ORNL) have announced that the first of those... Read more…

US Senate Passes CHIPS Act Temperature Check, but Challenges Linger

July 19, 2022

The U.S. Senate on Tuesday passed a major hurdle that will open up close to $52 billion in grants for the semiconductor industry to boost manufacturing, supply chain and research and development. U.S. senators voted 64-34 in favor of advancing the CHIPS Act, which sets the stage for the final consideration... Read more…

Top500: Exascale Is Officially Here with Debut of Frontier

May 30, 2022

The 59th installment of the Top500 list, issued today from ISC 2022 in Hamburg, Germany, officially marks a new era in supercomputing with the debut of the first-ever exascale system on the list. Frontier, deployed at the Department of Energy’s Oak Ridge National Laboratory, achieved 1.102 exaflops in its fastest High Performance Linpack run, which was completed... Read more…

Newly-Observed Higgs Mode Holds Promise in Quantum Computing

June 8, 2022

The first-ever appearance of a previously undetectable quantum excitation known as the axial Higgs mode – exciting in its own right – also holds promise for developing and manipulating higher temperature quantum materials... Read more…

AMD’s MI300 APUs to Power Exascale El Capitan Supercomputer

June 21, 2022

Additional details of the architecture of the exascale El Capitan supercomputer were disclosed today by Lawrence Livermore National Laboratory’s (LLNL) Terri Read more…

PsiQuantum’s Path to 1 Million Qubits

April 21, 2022

PsiQuantum, founded in 2016 by four researchers with roots at Bristol University, Stanford University, and York University, is one of a few quantum computing startups that’s kept a moderately low PR profile. (That’s if you disregard the roughly $700 million in funding it has attracted.) The main reason is PsiQuantum has eschewed the clamorous public chase for... Read more…

Leading Solution Providers

Contributors

ISC 2022 Booth Video Tours

AMD
AWS
DDN
Dell
Intel
Lenovo
Microsoft
PENGUIN SOLUTIONS

Exclusive Inside Look at First US Exascale Supercomputer

July 1, 2022

HPCwire takes you inside the Frontier datacenter at DOE's Oak Ridge National Laboratory (ORNL) in Oak Ridge, Tenn., for an interview with Frontier Project Direc Read more…

AMD Opens Up Chip Design to the Outside for Custom Future

June 15, 2022

AMD is getting personal with chips as it sets sail to make products more to the liking of its customers. The chipmaker detailed a modular chip future in which customers can mix and match non-AMD processors in a custom chip package. "We are focused on making it easier to implement chips with more flexibility," said Mark Papermaster, chief technology officer at AMD during the analyst day meeting late last week. Read more…

Intel Reiterates Plans to Merge CPU, GPU High-performance Chip Roadmaps

May 31, 2022

Intel reiterated it is well on its way to merging its roadmap of high-performance CPUs and GPUs as it shifts over to newer manufacturing processes and packaging technologies in the coming years. The company is merging the CPU and GPU lineups into a chip (codenamed Falcon Shores) which Intel has dubbed an XPU. Falcon Shores... Read more…

Nvidia, Intel to Power Atos-Built MareNostrum 5 Supercomputer

June 16, 2022

The long-troubled, hotly anticipated MareNostrum 5 supercomputer finally has a vendor: Atos, which will be supplying a system that includes both Nvidia and Inte Read more…

India Launches Petascale ‘PARAM Ganga’ Supercomputer

March 8, 2022

Just a couple of weeks ago, the Indian government promised that it had five HPC systems in the final stages of installation and would launch nine new supercomputers this year. Now, it appears to be making good on that promise: the country’s National Supercomputing Mission (NSM) has announced the deployment of “PARAM Ganga” petascale supercomputer at Indian Institute of Technology (IIT)... Read more…

Is Time Running Out for Compromise on America COMPETES/USICA Act?

June 22, 2022

You may recall that efforts proposed in 2020 to remake the National Science Foundation (Endless Frontier Act) have since expanded and morphed into two gigantic bills, the America COMPETES Act in the U.S. House of Representatives and the U.S. Innovation and Competition Act in the U.S. Senate. So far, efforts to reconcile the two pieces of legislation have snagged and recent reports... Read more…

AMD Lines Up Alternate Chips as It Eyes a ‘Post-exaflops’ Future

June 10, 2022

Close to a decade ago, AMD was in turmoil. The company was playing second fiddle to Intel in PCs and datacenters, and its road to profitability hinged mostly on Read more…

Exascale Watch: Aurora Installation Underway, Now Open for Reservations

May 10, 2022

Installation has begun on the Aurora supercomputer, Rick Stevens (associate director of Argonne National Laboratory) revealed today during the Intel Vision event keynote taking place in Dallas, Texas, and online. Joining Intel exec Raja Koduri on stage, Stevens confirmed that the Aurora build is underway – a major development for a system that is projected to deliver more... Read more…

  • arrow
  • Click Here for More Headlines
  • arrow
HPCwire