LOS ANGELES, Aug. 11, 2024 /PRNewswire/ -- Resecurity (USA), a global leader in cybersecurity and risk management solutions protecting major Fortune 500 companies and government agencies worldwide, unveiled its advanced AI-driven Fraud Prevention Platform. This versatile solution is engineered to combat fraud across banking, virtual asset service providers (VASPs), gambling, e-commerce, and online marketplaces, providing a robust defense against the evolving landscape of digital fraud. The platform was successfully introduced at Black Hat USA 2024 in Las Vegas, along with the CONTEXT AI framework by Resecurity.
In the digital era, the frequency of online transactions has increased in times, alongside the sophistication of fraud tactics, tools and procedures (TTPs). Resecurity's AI-driven Fraud Prevention Platform leverages state-of-the-art data science and machine learning (ML) to offer comprehensive, preemptive protection and close to real-time detection across various digital platforms.
The platform is powered by actionable Big Data providing unique risk intelligence insights on the latest fraud indicators, money mules, politically exposed person (PEPs), merchants involved in illegal activity, enabling financial crime investigators, fraud prevention and compliance teams to perform enhanced KYC screening and conduct deep dive investigations.
Diverse Applications for Comprehensive Fraud Prevention:
- Protecting Banks' Customers:Â The platform delivers tailored fraud detection and prevention mechanisms for the banking sector. By continuously analyzing transaction patterns and customer behaviors, it identifies anomalies and potential fraud attempts in real-time, enabling banks to swiftly protect their customers' assets.
- Safeguarding E-commerce and Payment Systems:Â E-commerce platforms and payment systems, often targeted by fraudsters, benefit from Resecurity's seamless integration. The platform utilizes advanced AI algorithms to monitor transactions and user activities, detecting fraudulent actions such as account takeovers, payment fraud, and identity theft, thereby maintaining trust and security for e-commerce businesses.
- Detecting Fraud on Marketplaces:Â Marketplaces, with their high volume of daily transactions, require vigilant fraud monitoring. The AI-driven Fraud Prevention Platform equips marketplaces with the necessary tools to identify and mitigate fraud effectively. By analyzing extensive data in real-time, the platform spots fraudulent listings, fake reviews, and unauthorized transactions, preserving marketplace integrity and protecting both buyers and sellers.
- Accelerate Compliance for Fintech: Stay compliant with the latest regulatory requirements by leveraging comprehensive fraud prevention controls and specialized advisory services.
Key Features of Resecurity's AI-driven Fraud Prevention Platform:
- Anti Money Laundering (AML): Detection of actors who may misuse financial services, such as banks, e-commerce platforms, and payment networks, to engage in illegal activities, including money laundering and terrorism financing. Resecurity is sharing actionable risk intelligence to facilitate the identification of high-risk individuals and accelerate anti-money laundering controls for compliance purposes.
- Real-time Fraud Detection: Utilize cutting-edge AI and graph-based analysis to identify fraudulent activities quickly and accurately.
- Cross-Platform Behavioral & Environmental Metrics:Â Analyze geolocation with high accuracy, behavior, network, software environment, time-based and device-specific data from customers, enhancing fraud detection across web and mobile interfaces.
- Bot Detection and Behavioral Analysis:Â Analyze device requests and user behavior to predict and prevent fraud attempts, ensuring authenticity and security.
- Preemptive Fraud Intelligence:Â Leveraging AI and machine learning, the platform offers preemptive insights to stop fraud before it can impact operations based on ongoing financial crime intelligence collection (compromised payment data, activity of threat actors).
- Superior Device Fingerprinting:Â Uses proprietary technology to distinguish legitimate users from potential threats, including infected and spoofed devices.
- Platform-Agnostic Mobile SDK: Employs Web Snippet and Mobile SDK for Google Android and Apple iOS to ensure seamless integration across a wide range of digital platforms, enhancing adaptability and coverage.
The platform has been successfully implemented in leading financial institutions, lending providers, insurance organizations, and marketplaces, enabling them to save millions of dollars in potential losses.
About Resecurity
Resecurity® is a cybersecurity company that delivers a unified endpoint protection, fraud prevention, risk management, and cyber threat intelligence platform. Known for providing best-of-breed data-driven intelligence solutions, Resecurity's services and platforms focus on early-warning identification of data breaches and comprehensive protection against cybersecurity risks. Founded in 2016, it has been globally recognized as one of the world's most innovative cybersecurity companies with the sole mission of enabling organizations to combat cyber threats regardless of how sophisticated they are. Most recently, Resecurity was named one of the Top 10 fastest-growing private cybersecurity companies in Los Angeles, California, by Inc. Magazine. An Official Partner of the Cybercrime Atlas by the World Economic Forum (WEF), Member of InfraGard National Members Alliance (INMA), AFCEA, NDIA, SIA, FS-ISAC and the American Chamber of Commerce in Saudi Arabia (AmChamKSA), Singapore (AmChamSG), Korea (AmChamKorea), Mexico (AmChamMX), Thailand (AmChamThailand), and UAE (AmChamDubai). To learn more about Resecurity, visit https://resecurity.com.
For more information about Resecurity's AI-driven Fraud Prevention Platform, visit https://www.resecurity.com/fraud-prevention.
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SOURCE Resecurity Inc.
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