Real-Time Payments Fraud - from an interview with Brad Deflin by Andrew Deichler
Kyriba, Sep.1st, 2021
Brad Deflin, founder and president of Total Digital Security, stressed the importance of technology in an environment where transactions are settling in real time. He noted that in a few nanoseconds, ML algorithms can run a multitude of tests to determine whether a payment appears to be legitimate or if it should be flagged for further analysis.
“Technology has really come a long way,” Deflin said. “Number one, there’s a lot more data to pull from that makes the software that much smarter. Number two, there’s a lot more threat intelligence available, and an increasing element of collaboration and sharing that threat intelligence. Today, you can run a transaction through an enormous number of tests in less than the time it takes to blink an eye. It adds a real element of credibility to a transaction.”
Deflin has also observed greater capital investment in real-time threat protection, which has been driving innovation. As a result, the protections are growing better every year. Thus, if corporate treasury departments are hesitant about using real-time payments now due to the risks, perhaps they can take comfort in the fact that once FedNow is live two years from now, the protections may be far more advanced than they are today. Still, treasury will need to take care to make sure that protections are deployed and implemented in the right way.
Lastly, it’s gotten to the point where manual processes are no longer sufficient for detecting fraud. Fraudsters are using AI and ML technology in their processes. If treasury and finance departments don’t do the same, they’ll be ill-equipped to stop these attacks. “You’ve got to keep the battlefield level,” Deflin said.
With contributions and acknowledgments by Brad Deflin, Founder and CEO of Total Digital Security.
“A digital vault is a secure repository for sensitive and valuable documents and digital assets,” says Brad Deflin, founder and CEO of Total Digital Security, protecting private clients, wealthy families, and VIPs from cyber risk.
“Digital vaults are held on secure servers, in secure facilities, and off the cloud, but with cloud-like features like browser access.
"Deflin believes it would be more effective for organizations to provide employees with cybersecurity training that goes beyond compliance. He stressed that employees need to understand that good cyber practices aren't just about protecting the company's bottom line; they are about survival in the digital age.
"What we've found is that when you personalize these issues in training and education, the level of interest goes up, the retention of behavioral change lengthens and the results are much better," he said.
Society for Human Resource Management - June 29th, 2021
#5 - Total Digital Security
“Professional cybersecurity solutions and services with a personal touch. Enterprise-grade protection for private clients, wealthy families, VIPs, executives, and remote workforces.
Personal IT support and service with holistic, integrated, simple to use, and effective solutions for protecting internet devices, email, and networks. Since 2013.”
"The Tech Tribune staff has compiled the very best tech startups in West Palm Beach, Florida. In doing our research, we considered several factors including but not limited to:
Additionally, all companies must be independent (unacquired), privately owned, at most 10 years old, and have received at least one round of funding in order to qualify."
The AFP Payments Guide for 2020
August 3rd, 2020
"Ultimately, it comes down to an understanding of authentication. The recipient has to view every email with the mindset that what they’re looking at is not authentic. “It’s guilty until proven innocent,” Deflin added. “And so we as the employee, as the user, as the individual, need to have some practices to go through some sort of an authentication process, whether it be an incoming email or invoice or a website.”
April 15th, 2020
"In this episode, Mike welcomes Brad Deflin, the founder and CEO of Total Digital Security, a cybersecurity firm that provides private clients and families with enterprise-grade solutions for their personal technology and information."
“The challenge is to accomplish this for decentralized working environments with holistic, integrated systems that are seamless for the worker and simple to administrate for the company." Brad Deflin
"Brad Deflin is a great friend of all of us here at Banyan Hill Publishing. He’s a regular presenter at our annual Total Wealth Symposium, where he talks about the risks of our digital world and solutions to them. He reached out to me, offering to share some ideas about how to protect yourself if you’re working, studying, and playing at home during the pandemic. Here’s what he shared…" — Ted Baumann
The Palm Beach Post - Palm Beach, FL. December 27th, 2019.
“Where I think some fail to really stay up to speed in what’s going on is up to the human side,” he said.
Deflin added that the fact that it was the receptionist who stopped Zhang, rather than a security officer, isn’t necessarily a negative thing, as it indicates she was “well-hired, trained and alert to actually realize that something was wrong.”
"Brad Deflin, Founder and CEO of Total Digital Security, will make a keynote presentation to the YPO Wisconsin Gold Chapter in Milwaukee. Deflin is an experienced speaker on the topic of cybersecurity for private clients, wealthy families, and VIPs. His presentations are renowned for using knowledge and insights derived from his vast experience in the field of cybercrime and online fraud.
Titled "Cybersecurity for Life," Mr. Deflin will share the latest cyber threats from 2019, and the trends his firm sees for 2020 and beyond. The program emphasizes personal vulnerability to cyber risk and self-empowerment for protection. Audience members will leave with an individual action plan and a sense of urgency."
"Private investors and affluent families are top targets for cybercriminals and online scams. Brad Deflin presents on what is happening and how to protect at the Total Wealth Symposium on September 13th"
WEST PALM BEACH, FL, 33401, September 9, 2019
"Cyber risk continues to migrate from exclusively large enterprise environments to individual users and their personal technology and internet-connected devices. Additionally, the threat landscape is changing from primarily targeted attacks to mass-opportunistic campaigns that exploit unaware users and under-protected devices and networks.
In this podcast, RANE CMO Greg Radner interviews CEO and Founder Brad Deflin at Total Digital Security, where his firm specializes in providing enterprise-grade cybersecurity solutions to protect individuals and their personal technology from cybercrime."
West Palm Beach CBS News WPEC Channel 12 - Experts say 'Momo' suicide challenge is a 'textbook internet hoax'
"It's difficult because our kids are really good users of these devices," said Brad Deflin. He's the CEO of Total Digital Security in West Palm Beach. "They need to know they're being used at the same time." Brad Deflin, March 1, 2019.
IoT Security Services Association (IoTSSA) is a community of IT Channel Partners connecting industry security experts and vendors with IT Service Providers. IoTSSA is focused on being at the forefront of security knowledge, education and service delivery.
WEST PALM BEACH , FL, UNITED STATES, January 2, 2019 /EINPresswire.com/ -- Total Digital Security, a provider of digital security technologies for individuals and businesses, today announced that its founder, Brad Deflin, will be presenting to the Trustees of the Palm Beach Chamber of Commerce on January 9, 2019 at the Palm Beach Yacht Club. Responding to the exponential increase in data breaches, and high-profile cyber attacks endangering the worldwide economy, the Palm Beach Chamber of Commerce has invited Mr. Deflin to address the topic of cybersecurity for individuals, families, and businesses. Read more.
"Total Digital Security's mission is to make industrial-grade cybersecurity technology accessible, affordable, and easy to use for everyone.”
— Brad Deflin, Founder
"Brad Deflin is CEO of Total Digital Security, a company that provides industrial-strength data security and privacy solutions to individuals and small businesses. One of the things I like most about Brad is that his entrepreneurial activities are guided by a clear understanding of the need to address threats many of us don't see until they are pointed out. In this article, he adds another reason to like his work: the same things that can protect our privacy can also help protect our rapidly degenerating democracy."
Read more, here.
WEST PALM BEACH, FLORIDA, UNITED STATES, October 31, 2018 /EINPresswire.com/ -- Total Digital Security announced today that its founder, cybersecurity expert Brad Deflin, will be the featured speaker at an event on Thursday, November 8th, 2018 in Boca Raton, Florida, sponsored by Bank of America - Merrill Lynch.
Focusing on cybersecurity for families, Mr. Deflin will discuss best practices in the digital age, providing participants the information they need to confidently make informed risk decisions regarding their family's use of technology, such as the risks and threats involved in information sharing, key steps for individual risk management, and how to build and use cyber defenses in the private sector.
Read more about this cybersecurity event, here.
PALM BEACH, FL, UNITED STATES, October 1, 2018 /EINPresswire.com/ --
"Total Digital Security announced today that its founder, cybersecurity expert Brad Deflin, has been invited to speak at upcoming events on Wednesday, October 3rd, 2018 in St. Louis, Missouri, and Thursday, October 4, 2018, in Milwaukee, Wisconsin. Hosted by Edward Marshall, Director of Global Family Office for Citi Private Bank, the education events will discuss best practices for family offices, providing participants the information they need to confidently make informed risk decisions for their organizations, specifically addressing the challenges of protecting family businesses in the digital age."
Read more, here.
"Total Digital Security's distinct approach to cyber security for affluent individuals and families is gaining approval by the family office industry it serves. The company, one of the USA’s foremost innovators in cyber security services, has been shortlisted for the Family Wealth Report Awards for “Best Cyber Security Provider for the Family Office.”
Showcasing ‘best of breed’ providers in the global private banking, wealth management and trusted advisor communities, the awards were designed to recognize companies, teams, and individuals which the prestigious panel of judges deemed to have ‘demonstrated innovation and excellence during 2017."
"Brad Deflin, Founder, and President of Total Digital Security will present to members, and guests of the Palm Beach Chamber of Commerce on Tuesday, February, 13th, 2018 at The Breakers Hotel.
Deflin's presentation "Cyber Security for Survival and Success in the New Digital Age" will address cyber risk in all aspects of life, personally and professionally, and how leaders can drive adaptation across their respective groups and organizations. The Rosarian Academy is sponsoring the Chamber's breakfast and presentation."
"According to cybersecurity expert Brad Deflin, founder of Total Digital Security and a past speaker at AFP conferences and forums, letting the Equifax incident slide is particularly egregious. “Equifax took every opportunity to turn every one of these issues into profit-making and information gathering,” he said. “They even provided bad URLs for help websites that were also further exposed. And so to see the government relent and not use Equifax as an example to try to drive change is incredibly disappointing.”
By Andrew Deichler, with quotes by Brad Deflin. Published: 2/8/2018
"If you are an investor, member of an affluent family, a trusted business person, or perhaps all three, you may have wondered to yourself: "is cyber-risk getting so bad these days I need my own IT security department just to keep us safe?"
From the Bauman Letter, Feb 2018.
On Realtors® and cyber risk -
“A real estate agency is a perfect example of an environment that is susceptible to hackers … especially the high-end residential sales firms.” - Brad Deflin, founder of Total Digital Security in Palm Beach, Fla.
Realtor®Mag - AUGUST 2015 | Read more.
"Today, you don't need large upfront costs and IT expenses to protect your data and digital assets. Effective cyber-security is a service, not a product, and can now be managed and administrated by software and the internet." Brad Deflin