TCS-Symantec Team to Build Anti-Financial Fraud Tool; Keith Bhatia Comments

TeleCommunication Systems and Symantec have partnered to develop a technology for commercial enterprises to identify and prevent financial fraud, unauthorized account access and other illicit activities online.

TCS said Monday it will integrate its Trusted Location platform with Symantec’s Mobility Risk Detection system to create a combined tool designed to determine if a mobile device’s location has been compromised or spoofed.

The new platform also aims to mitigate false positives that result in the denial of services for legitimate users, according to TCS.

Dr. Keith Bhatia, vice president of mobility solutions at TCS’ commercial security group, said the company’s collaboration with Symantec aims to help “financial services firms, online gaming companies and other businesses to instantly quantify fraud threats involving mobile phones, tablets and [Internet of Things] devices anywhere in the world.”

TCS said the companies will introduce the combined system by the third quarter of this year.