Srinivas Rao Doddi¹ and Akshay Krishna Kotamraju², ¹University of Los Angeles, USA, ²Founder Non-profit, USA

Social engineering attacks pose a serious threat to individuals through various phishing attacks and also scams. Scams also comprise wherein a very prominent type of fraud occurs wherein first party or the user is made to believe in a nefarious scheme as profitable i.e. “collusion” wherein threat actor colludes in perpetrating fraud wherein a percentage of money gets split or victim’s get their money drained before they realize that they have been duped. These situations also lead to a scenario called “first party fraud” wherein the victim even after knowingly authorizing payments denies subsequently and go to court. In such scenario, it is upon the entity or financial organizations to prove that they do have “authorization” and it was indeed the same person to deal with “repudiation scenarios” , else financial institutions may have to bear the lost This paper presents a converged security framework towards a comprehensive prevention and detection controls mechanism to mitigate these threat vectors. It also explores different types of social media attributes ,leverage data mining engineering tactics. The paper also discusses associated limitations and challenges and recommends security best practices, and proposes an integrated framework. Finally, paper proposes a converged security framework that allows various parties from fraud, cyber, and physical security to collaborate.

Security, Assurance, Authentication, Information, Policy