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Optical Character Recognition Identifying Risk Using OCR Software

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Security and fraud teams may use online optical character recognition (OCR) to supplement their data gathering with timely, actionable insight right away. For instance, OCR Software allows CTI and SOC teams to notice when key organizational or consumer data obtained from photos are posted to unlawful networks and actively exploited across the deep and black web.

What exactly is OCR (Optical Character Recognition)?

Ever since its origins which is more than a century ago as a method of deciphering text to play as sounds for the blind, OCR technology has gone a long way since Ray Kurzweil and Xerox first commercialized it in the 1980s. 

Today, OCR is used to extract text, logos, and other identifying components from images in a number of applications and industries. Security and fraud teams may use OCR services to detect possible cyber, corporate, and physical dangers and take action to mitigate them.

Why is OCR such an important tool for security and fraud investigators? (and the CISOs who lead them)

Searchable machine learning OCR

The information extracted and classified from photos using the OCR engine should be instantly accessible, removing any systematic obstacles between raw data and actionable intelligence.

OCR optical character recognition is a very effective and efficient technique of analyzing, recognizing, and categorizing pictures when combined with machine learning algorithms. OCR compliance can recognize information from photos in any direction (horizontal, vertical, diagonal, or curved) as well as language.

Overall, the best OCR screening allows security and fraud teams to swiftly discover photos of fraudulent behavior within criminal groups and take action to limit such risks.

Why images matter: Risk exposures and OCR

Cyber attackers are increasingly displaying private information on chat platforms, including breached bank accounts, domains, identities, credentials, networks, gadgets, contact information, stolen information, attacking code, and Remote Desktop Protocol (RDP) access.

Threat actors may also use photos to brag about their current exploits, communicate sensitive or exploitable information, and even plot future assaults.

Inside the minds of threat actors

Assume you’re looking to buy stolen bank account credentials. To do so, you browse through a number of text-based messages on an unlawful channel (such as a chat server); each poster claims to have access to various forms of banking and investment account information. 

How can buy-side threat actors check that sellers have access to financial accounts? However, how can these merchants convince potential customers that the stolen credentials are valid?

Lastly, how would you assess whether claims are believable (or false positives) and so necessitate action if you’re part of a fraud team that’s carefully seeking for indications of compromise (IOCs)? 

What is the solution? The proof is provided via images.

Uses of OCR Technology in Different Industries

Banking & Related Industries

The principal users of the OCR Software are banks and financial organizations. They utilize it to validate client records, monthly statements, and signatures by scanning them with OCR technology through a program or an app. Technology was also crucial in transforming the financial system (from paper-based to totally digital).

Hotel Industry

The Hospitality business benefits from the OCR Softwarein a variety of ways. It enables restaurants and hotels to increase response times, productivity, and customer happiness by reducing wait times. From the check-in procedure to the generation of invoices, OCR has various applications in the food business. Traveling Industry

We don’t realize it, but OCR systems are making our vacations more comfortable than ever before. For security and data storage, the majority of airports now employ OCR. Technology has been employed to make the traveling experience as seamless as possible, from purchasing a trip to scanning a passport.

 

Healthcare Industry

OCR Software is also being used in the healthcare industry to do numerous time-consuming tasks in a matter of minutes. Medical professionals may obtain vital patient information such as prior illnesses, treatments, and other records with only a few clicks. Aside from that, the technology has been utilized to stay on top of logistics and consumables.

OCR solutions have been employed in a wide range of businesses and areas. Even our smartphones include OCR, which allows us to turn images and photos into editable documents.

See OCR in Action 

OCR technology is used by organizations in a number of industries, from financial institutions to governments and law enforcement, to proactively identify hazards, prevent fraud, and take action to reduce risk exposure.

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