risk – PressAP

ACN Newswire

As Mentor by eDriving Passes 3.5 Billion Miles Driven, Analysis Confirms Program’s Ability to Reduce Risky Driving Behaviors

January 26, 2023

CAPE MAY, NJ, Jan 26, 2023 - (ACN Newswire via SEAPRWire.com) - eDriving's digital driver safety program, Mentor(SM), featuring the FICO(R) Safe Driving Score, helps risky drivers become safer behind the wheel in just six months - and further improves behaviors over longer periods of time - according to findings from an analysis of the program. The analysis was performed after the program reached the milestone marking 3.5 billion miles driven in Spring 2022. The eDriving study identified the initial risk level of active[1] business drivers using the Mentor app (i.e., Very High Risk, High Risk, Medium Risk, Low Risk or Very Low Risk[2]), based on their first month's FICO Safe Driving Score - a score derived from smartphone-based driving behavior telematics. It then measured progress[3] over periods of six months, 12 months, and 18 months of using the app.Over a six-month period, those initially categorized as Very High Risk or High Risk experienced up to a 51% increase in their FICO Safe Driving Score, moving them up into the Medium Risk category. Over a longer period of 18 months, those initially categorized as Very High Risk or High Risk experienced an even greater average increase in their FICO Safe Driving Score of up to 70%, moving them up into the Low Risk category.While FICO Safe Driving Score improvement was the most significant for drivers who were initially identified as Very High Risk or High Risk, those identified as Medium Risk also improved, and Low-Risk drivers maintained their good performance levels.The study also showed there was a significant decrease in the negative driving behaviors measured by Acceleration, Braking, Cornering, Phone Distraction, and Speeding events for business drivers using Mentor's patented approach involving driver scoring, eLearning, gamification, and coaching.Speeding Reduction- Over a six-month period, those initially categorized as Very High Risk or High Risk experienced up to a 57% decrease in Speeding events.- Over a period of 18 months, those initially categorized as Very High Risk or High Risk experienced up to an 85% decrease in Speeding events, confirming a sustained improvement in driver behavior when using the Mentor app over a longer period.Distraction Reduction- Over a six-month period, those initially categorized as Very High Risk or High Risk experienced up to a 60% decrease in Distraction events.- Over an 18-month period, those initially categorized as Very High Risk or High Risk experienced up to an 88% decrease in Distraction events, again demonstrating a significant and sustained improvement in driver behavior when using the multi-faceted Mentor program over a longer period.Other significant findings:- Mentor use showed a reduction of in-vehicle calls among Very High-Risk or High-Risk drivers by up to 53% over a six-month period and 85% over 18 months. Phone manipulations (i.e., texting or handling the phone while driving) were reduced among these risky drivers by up to 62% over 6 months and 89% over 18 months.- Over a six-month period, those initially categorized as Very High Risk or High Risk experienced up to a 62% decrease in Hard Acceleration, Hard Braking and Hard Cornering events, with up to an 89% decrease over 18 months."Mentor was designed from the ground up to support our global clients who made the safety of their employees driving for work purposes a strategic imperative," said Ed Dubens, Founder and CEO of eDriving. "Over 20 years of driver risk management combined with the FICO Safe Driving Score, delivers the perfect combination of leading and lagging indicators to help Mentor proactively identify the most at-risk drivers for further support and coaching. 3.5 Billion Mentor miles later, it is incredible to see how quickly we have been able to turn smartphones from villains into catalysts for positive change that can save the lives of not just drivers, but also those they share the road with including pedestrians and cyclists."Launched globally in 2018, Mentor by eDriving is used by organizations around the world to help improve driver behavior among employees driving for work purposes, and has been shown to reduce collisions by up to 67%. The digital program uses smartphone sensors to collect and analyze data on the driving behaviors most predictive of risk. These include Acceleration, Braking, Cornering, Speeding, and Phone Distraction, one of the biggest threats to road safety today.Through eDriving's partnership with industry analytics leader FICO, driver on-road performance is converted into an individual FICO Safe Driving Score, which has been validated to help predict the likelihood of a driver being involved in a collision. Personalized insights are provided privately to drivers after each trip, showing both positive and negative driving events and exactly where they occurred. Additionally, engaging, interactive micro-training modules are delivered directly to the driver in-app to help promptly remediate identified risky behaviors. At the time of the 3.5B mile analysis, over 7.7 million eLearning modules had been viewed by Mentor users. Gamification and rewards are also employed by Mentor to promote driver engagement and friendly competition, while coaching support is included to help sustain behavior improvements over time."The FICO Safe Driving Score continues to provide a consistent and objective measure of driver risk," said Rachel Bell, Vice President of Scores and Analytics at FICO. "We are pleased to see that the FICO Safe Driving Score continues to help organizations keep their drivers safe and limit risks on the road."About SoleraSolera is the global leader in vehicle lifecycle management software-as-a-service, data, and services. Through four lines of business - vehicle claims, vehicle repairs, vehicle solutions and fleet solutions - Solera is home to many leading brands in the vehicle lifecycle ecosystem, including Identifix, Audatex, DealerSocket, Omnitracs, LoJack, Spireon, eDriving/Mentor, Explore, cap hpi, Autodata, and others. Solera empowers its customers to succeed in the digital age by providing them with a "one-stop shop" solution that streamlines operations, offers data-driven analytics, and enhances customer engagement, which Solera believes helps customers drive sales, promote customer retention, and improve profit margins. Solera serves over 300,000 global customers and partners in 100+ countries. For more information, visit www.solera.com.About eDrivingeDriving, a Solera company, helps organizations around the world improve safety, reduce injuries, license violations, carbon emissions, and total cost of fleet ownership through its patented digital driver risk management programs. These include the Mentor by eDriving(SM) smartphone app with FICO(R) Safe Driving Score; the patented, five-stage Crash-Free Culture(R) risk reduction program; and the Virtual Risk Manager(R) platform, all designed to work together within a privacy-first, data-secure environment that supports drivers and their managers every step of the way. eDriving is the digital driver risk management partner of choice for many of the world's largest organizations, supporting over 1,200,000 drivers in 125 countries. Over the past 25 years, eDriving's research-validated programs have been recognized with over 125+ awards around the world. For more information, visit www.edriving.com.Press contact, eDriving:Sheila Leveronepress@edriving.comAbout FICOFICO (NYSE:FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail, transportation and supply chain, and many other industries. Using FICO solutions, businesses in more than 120 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of rental cars are in the right place at the right time. Learn more at https://www.fico.com/.Press contact, FICO:Julie Huangpress@fico.com+1 925-405-7803[1] At least one trip per month[2] FICO(R) Safe Driving Scores were initially categorized as Risky, Poor, Average, Good and Great. These were updated to the new corresponding categories on July 29, 2020.[3] Analysis used data from trips classified as 'Business' only (no 'Passenger' or 'Personal' trips)Mentor Product Sheet https://www.edriving.com//wp-content/themes/edriving/images/pdf/ProductSheets/mentor_ENT_product_sheet.pdfSOURCE: eDriving Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

JP Morgan, Citi, BNP Paribas, Barclays, and Lloyds Banking Group make new strategic investment in operational risk management firm Acin

December 15, 2022

LONDON, Dec 15, 2022 - (ACN Newswire via SEAPRWire.com) - Acin, the global operational risk control data network, today announced it has closed $24 million in Series B funding from a strategic consortium of industry-leading banks, comprised of JP Morgan, Citi, BNP Paribas, Barclays, and Lloyds Banking Group.The funding round was also supported by existing investors Notion Capital, Talis Capital and Fitch Ventures, the equity investment arm of Fitch Group.This funding will enable further strategic product development in partnership with investing banks and existing clients. Additionally, it will enable Acin to expand and accelerate into new areas across the financial services industry.Acin's platform empowers financial institutions to digitise their operational and non-financial risk analysis, using ground breaking data analytic capabilities. Acin has established a network that calibrates data and facilitates the sharing of best practice between firms, underpinned by a standardised library of risks and controls. The results revolutionise the understanding and management of firms' operational and non-financial risk positions accelerating their journey to become safer and more efficient. Minimising operational risk capital is a shared industry ambition and Acin's solution is a key building block.Click on, or paste the following link into your web browser, to view the associated PDF document.http://www.rns-pdf.londonstockexchange.com/rns/7475J_1-2022-12-14.pdf This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Professional stealers: opportunistic scammers targeting users of Steam, Roblox, and Amazon in 111 countries

November 29, 2022

- Over 50 million passwords stolen in 7 months of 2022- Underground market value of stolen logs and compromised card details around US$5.8 million- India saw the highest number of infected devices in the Asia Pacific, followed closely by Indonesia, Philippines and VietnamSingapore, Nov 29, 2022 - (ACN Newswire via SEAPRWire.com) - Group-IB, one of the global leaders in cybersecurity, has identified 34 Russian-speaking groups that are distributing info-stealing malware under the stealer-as-a-service model. The cybercriminals use mainly Racoon and Redlinestealers to obtain passwords for gaming accounts on Steam and Roblox, credentials for Amazon and PayPal, as well as users' payment records and crypto wallet credentials. In the first seven months of 2022, the gangs collectively infected over 890,000 user devices and stole over 50 mln passwords. All the identified groups orchestrate their attacks through Russian-language Telegram groups, although they mainly target users in the United States, Brazil, India, Germany, and Indonesia. In 2022, info-stealing malware has grown into one of the most serious digitalthreats.Classiscam graduates By tracking the evolution of the popular scam scheme Classiscam, Group-IB Digital Risk Protection analysts revealed how some "workers" (low-rank online scammers) started shifting to a more dangerous criminal scheme that involves distributing info stealers. Moreover, the illicit business of stealers, which is coordinated via Telegram groups, uses exactly the same operational model as ClassiscamAn info stealer is a type of malware that collects credentials stored in browsers (including gaming accounts, email services, and social media), bank card details, and crypto wallet information from infected computers, and then sends all this data to the malware operator. After a successful attack, the scammers either obtain money themselves using the stolen data, or they sell the stolen information in the cybercriminal underground. According to Group-IB, stealers are one of the top threats to watch in the coming year. The threat actor responsible for the most recent attack on Uberpurchased the credentials compromised with the Racoon stealer.According to the Group-IB Digital Risk Protection team, (part of the Unified Risk Platform), the mass Telegram groups and bots designed to distribute info stealers first appeared in early 2021. By investigating a number of accounts, Group-IB analysts were able to confirm that members of several scam groups that previously participated in the Classiscam scheme began using stealers. In 2021 and 2022, Group-IB experts identified 34 active groups on Telegram. On average, such info stealer distribution groups have around 200 active members.The most popular stealer among the groups examined by Group-IB is RedLine, which is used by 23 out of 34 gangs. Racoon ranks second: 8 groups employ this tool. Custom stealers are used in 3 communities. Administrators usually give workers both RedLine and Racoon in exchange for a share of the stolen data or money. However, the malware in question is offered for rent on the dark web for $150-200 per month. Some groups use 3 stealers at the same time, while others have only one stealer in their arsenal.Having switched from scamming users of classified websites to stealers, some threat actors reproduced not only the hierarchy and model of Classiscam, but also its technical capabilities. In particular, Telegram bots that generate malicious content, communication between members, and all their shady accounting. The tasks of workers, the scammers of the lower-ranks, have also changed — they must now drive traffic to bait scam websites impersonating well-known companies and convince victims to download malicious files. Cybercriminals embed links for downloading stealers into video reviews of popular games on YouTube, into mining software or NFT files on specialized forums and direct communication with NFT artists, and into lucky draws and lotteries on social media.Telegram Stealers world tour Group-IB estimates that between March 1 (when Group-IB started researching the scheme) and December 31, 2021 stealers operated via Telegram groups were able to compromise 538,000 devices. In the first 7 months of 2022, Telegram stealers were found to be almost twice more active infecting more than 890,000 devices in 111 countries.The top 5 most often attacked countries in 2022 were the United States, Brazil, India, Germany, and Indonesia with 91,565, 86,043, 53,988, 40,750, and 35,345 infected devices respectively.List of countries in Asia Pacific by the number of infected devices include India, Indonesia, Philippines, Vietnam and Singapore. In India for example, from March - December 2021, the operators of the stealers in question infected 19,249 devices. In the first seven months of 2022, the number grew to 53,988. Scammers were able to retrieve 4,547,020 passwords, 4,657 sets of payment records, and 4,428 sets of crypto wallet information such as credentials, seed phrases, etc.Indonesia closely follows with a total of 35,345 infected devices and where scammers were able to retrieve 2,372,893 passwords. The Philippines recorded a total of 31, 745 infected devices and Vietnam with a total of 22,739 devices infected and scammers retrieving 2,032,278 passwords. Australia had 5,794 devices infected and 549,640 passwords retrieved by scammers. Singapore saw 2,179 devices infected, with 185,689 passwords retrieved.According to the analysis of Telegram groups, for the last 10 months of 2021 cybercriminals collected 27,875,879 sets of passwords, 1,215,532,572 cookie files, 56,779 sets of payment records, and data from 35,791 crypto wallets. In the first 7 months of 2022, threat actors stole 50,352,518 passwords, 2,117,626,523 cookie files, details of 103,150 bank cards, and data from 113,204 crypto wallets. The underground market value of just the stolen logs and compromised card details is around $5.8 million, Group-IB experts estimate.According to Group-IB, in 2021, threat actors worldwide most frequently collected PayPal account credentials (more than 25%) and Amazon credentials (more than 18%). In 2022, the most targeted services are the same, namely PayPal (more than 16%) and Amazon (more than 13%). However, over the course of the year, cases of stealing passwords for gaming services (Steam, EpicGames, Roblox) in the logs have increased almost five-fold."The influx of a huge number of workers into the popular scam Classiscam — which Group-IB's Unified Risk Platformidentified, at its peak, comprised over a thousand criminal groups and hundreds of thousands of fake websites — has led to criminals competing for resources and looking for new ways to make profits," says Ilia Rozhnov, head of Group-IB's Digital Risk Protection in the Asia Pacific. "The popularity of schemes involving stealers can be explained by the low entry barrier. Beginners do not need to have advanced technical knowledge as the process is fully automated and the worker's only task is to create a file with a stealer in the Telegram bot and drive traffic to it. For victims whose computers become infected with a stealer, however, the consequences can be disastrous."To minimize potential risks, Group-IB Digital Risk Protection experts recommend that users refrain from downloading software from suspicious sources, use isolated virtual machines or alternative operating systems for installation, avoid saving passwords in browsers, and regularly clear browser cookies. To prevent digital risks and unwanted consequences, companies should take a proactive approach to their brand's digital security and use modern technologies for monitoring and response, such as Group-IB's Digital Risk Protection.About Group-IBGroup-IB, with its headquarters in Singapore, is one of the leading solutions providers dedicated to detecting and preventing cyberattacks, identifying online fraud, investigating high-tech crimes, and protecting intellectual property. The company's Threat Intelligence and Research Centers are located in the Middle East (Dubai), Asia-Pacific (Singapore), and Europe (Amsterdam).Group-IB's Unified Risk Platform is an ecosystem of solutions that understands each organization's threat profile and tailors defenses against them in real time from a single interface. The Unified Risk Platform provides complete coverage of the cyber response chain. Group-IB's products and services consolidated in Group-IB's Unified Risk Platform include Group-IB's Threat Intelligence, Managed XDR, Digital Risk Protection, Fraud Protection, Attack, Surface Management, Business Email Protection, Audit & Consulting, Education & Training, Digital Forensics & Incident Response, Managed Detection & Response, and Cyber Investigations. Group-IB's Threat Intelligence system has been named one of the best in its class by Gartner, Forrester, and IDC. Group-IB's Managed XDR, intended for proactively searching for and protecting against complex and previously unknown cyber threats, has been recognized as one of the market leaders in the Network Detection and Response category by KuppingerCole Analysts AG, the leading European analyst agency, while Group-IB itself has been recognized as a Product Leader and an Innovation Leader. Gartner has named Group-IB a Representative Vendor in Online Fraud Detection for its Fraud Protection. In addition, Group-IB was granted Frost & Sullivan's Innovation Excellence award for Digital Risk Protection (DRP), an Al-driven platform for identifying and mitigating digital risks and counteracting brand impersonation attacks, with the company's patented technologies at its core. Group-IB's technological leadership and R&D capabilities are built on the company's 19 years of hands-on experience in cybercrime investigations worldwide and over 70,000 hours of cybersecurity incident response accumulated in our leading DFIR Laboratory, High-Tech Crime Investigations Department, and round-the-clock CERT-GIB.Group-IB is an active partner in global investigations led by international law enforcement organizations such as Europol and INTERPOL. Group-IB is also a member of the Europol European Cybercrime Centre's (EC3) Advisory Group on Internet Security, which was created to foster closer cooperation between Europol and its leading non-law enforcement partners.Group-IB's experience in threat hunting and cyber intelligence has been fused into an ecosystem of highly sophisticated software and hardware solutions designed to monitor, identify, and prevent cyberattacks. Group-IB's mission is to protect its clients in cyberspace every day by creating and leveraging innovative solutions and services.For more information, please contact:pr@group-ib.com+65 3159-3798https://www.group-ib.comhttps://www.group-ib.com/blogTwitter | LinkedIn |Facebook |Instagram |Telegram Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

eDriving Integrates Greater Than’s EcoScore Into Their Digital Driver Safety Application, Mentor, To Help Fleets Achieve Sustainability Targets

November 18, 2022

CAPE MAY, NJ and STOCKHOLM, SWEDEN, Nov 17, 2022 - (ACN Newswire via SEAPRWire.com) - eDriving(SM), a Solera company and leading global provider of digital driver risk management solutions, today announced a partnership with Greater Than (GREAT:ST), the global provider of technology that converts GPS data into powerful insights and driver scores. Through the collaboration, eDriving will integrate Greater Than's EcoScore into a new feature in its award-winning digital driver safety app Mentor(SM). The new feature, to be named EcoDrive powered by Greater Than, enables eDriving to further support its global clients in achieving their sustainability goals.Revolutionising driver risk management for over 25 years, eDriving is the trusted partner of choice for many of the world's largest sales, service, and delivery fleets, supporting over 1.2 million drivers in 125 countries with award-winning digital driver risk management and safety solutions. eDriving's smartphone-based Mentor programme identifies and remediates drivers' risky habits behind the wheel with training, coaching, and gamification, achieving up to an 89% reduction in risky driver behaviour over 18 months.The integration of Greater Than's EcoScore is a strategic step for eDriving to elevate the sustainability benefits of Mentor for their customers on a global scale by contributing to carbon footprint reductions of up to 20%. In addition, the EcoScore facilitates more accurate Environmental, Social and Governance (ESG) reporting with harmonised data on an organisation's CO2 emissions and savings."Our customers are keen to take ownership of their climate impact and help their drivers minimise their CO2 emissions as well as safely return home to their loved ones at the end of each workday. This exciting new partnership between eDriving and Greater Than will help to accelerate that goal," said Ed Dubens, CEO/Founder of eDriving. "Greater Than's EcoScore is yet another example of how eDriving's Mentor ecosystem brings together the best of the best into one world-class solution focused on driver risk management, safety and sustainability. FICO's Safe Driving Score, Sfara's Collision Detection, Bosch's Emergency Response Services, and now Greater Than's EcoScore continue to evolve and sustain Mentor's unique value proposition supporting the world's largest enterprise organisations."Mentor's EcoDrive powered by Greater Than will incorporate Greater Than's unique pattern-AI technology which conducts real-time driving analysis to calculate CO2 emissions per individual driver. With a uniform measure of environmental impact, EcoDrive powered by Greater Than enables fair, transparent, unbiased evaluation of individual drivers' eco performance, regardless of vehicle type or global location. Drivers will be able to see carbon emissions reported in grams and percentages following each trip on their Mentor dashboard, making it the perfect sustainability analysis and reporting tool for organisations with mixed vehicle types."We are very excited that eDriving is introducing its new EcoDrive feature based on our EcoScore to its Mentor customers. Our partnership is another proof of the scope of use for our DriverDNA AI analysis. With EcoScore integrated into the Mentor app, eDriving customers will have greater control over their environmental impact and the necessary insights to reduce them, as well as valuable data of absolute CO2 emissions to facilitate comprehensive sustainability reporting, which looks set to be mandatory for many companies in coming years," said Liselott Johansson, CEO, Greater Than.EcoDrive powered by Greater Than will be available in eDriving's flagship Mentor business solutions, as well as Mentor Defender, eDriving's newest app for individuals and family members, distributed through insurers, auto safety membership organisations and driving schools.Press contact, eDriving:Sheila Leverone, Chief Marketing Officerpress@edriving.comPress contact, Greater Than:Eva Voors, Chief Communications Officereva.voors@greaterthan.eu+46 708 884 880About SoleraSolera is the global leader in vehicle lifecycle management software-as-a-service, data, and services. Through four lines of business - vehicle claims, vehicle repairs, vehicle solutions and fleet solutions - Solera is home to many leading brands in the vehicle lifecycle ecosystem, including Identifix, Audatex, DealerSocket, Omnitracs, LoJack, Spireon, eDriving/Mentor, Explore, cap hpi, Autodata, and others. Solera empowers its customers to succeed in the digital age by providing them with a "one-stop shop" solution that streamlines operations, offers data-driven analytics, and enhances customer engagement, which Solera believes helps customers drive sales, promote customer retention, and improve profit margins. Solera serves over 300,000 global customers and partners in 100+ countries. For more information, visit www.solera.com.About eDrivingeDriving, a Solera company, helps organisations around the world improve safety, reduce injuries, licence violations, carbon emissions, and total cost of fleet ownership through its patented digital driver risk management programmes. These include the Mentor by eDriving(SM) smartphone app with FICO(R) Safe Driving Score; the patented, five-stage Crash-Free Culture(R) risk reduction programme; and the Virtual Risk Manager(R) platform, all designed to work together within a privacy-first, data-secure environment that supports drivers and their managers every step of the way. eDriving is the digital driver risk management partner of choice for many of the world's largest organisations, supporting over 1,200,000 drivers in 125 countries. Over the past 25 years, eDriving's research-validated programmes have been recognised with over 120 awards around the world. For more information, visit www.edriving.com.About Greater ThanGreater Than is an AI data analytics company that predicts crash probability and CO2 impact per driver in real-time, revolutionising auto insurance pricing and new business solutions for the automotive, new mobility and fleet industries.Our AI has experienced the equivalent of 855,000 man-years of real driving and has to date discovered over 7 billion unique driver DNAs: learning that makes it the most experienced AI driver in the world.Greater Than is appointed as an InsurTech100 company and AIFinTech100 company and has been named Provider of AI Automotive Product of the year, 2021. Greater Than (GREAT) is listed on Nasdaq First North Growth Market. FNCA Sweden AB is the Company's Certified Adviser. Learn more at www.greaterthan.eu.EcoDrive Product Sheet https://www.edriving.com/wp-content/uploads/2022/11/EcoDrive-product-sheet.pdfSOURCE: eDriving Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)