Resecurity (USA), a global leader in cybersecurity and risk management solutions protecting major Fortune 500 companies and government agencies worldwide. has officially announced the launch of its advanced AI-driven Fraud Prevention Platform, which is designed to fight fraud across banking, virtual asset service providers (VASPs), gambling, e-commerce, and online marketplaces. According to certain reports, the stated 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. More on the same would reveal how the solution, powered by actionable Big Data, provides unique risk intelligence insights on the latest fraud indicators, money mules, politically exposed person (PEPs), merchants involved in illegal activity. As a result, it is well-equipped to help crime investigators, fraud prevention and compliance teams perform enhanced KYC screening and conduct deep dive investigations. Talk about the whole value proposition on a slightly deeper level, we begin from the way this Fraud Prevention Platform protects banking customers. Here, it effectively delivers at your disposal tailored fraud detection and prevention mechanisms. You see, by continuously analyzing transaction patterns and customer behaviors, the solution is able to identify anomalies and potential fraud attempts in real-time, thus enabling banks to swiftly protect their customers’ assets.
Next up, we must dig into its utility when it comes to safeguarding e-commerce and payment systems. In essence, Resecurity’s latest brainchild utilizes advanced AI algorithms to monitor transactions and user activities for the purpose of detecting fraudulent actions, such as account takeovers, payment fraud, and identity theft. This it does to maintain trust and security across e-commerce businesses. Alongside e-commerce, the new platform can also detect fraud on marketplaces. You see, with their high volume of daily transactions, marketplaces usually tend to require vigilant fraud monitoring. Fortunately enough, the AI-driven Fraud Prevention Platform makes that possible by empowering these marketplaces with the necessary tools to identify and mitigate fraud effectively. Furthermore, it analyzes extensive data in real-time to spot out fraudulent listings, fake reviews, and unauthorized transactions, preserving marketplace integrity and protecting both buyers and sellers. Beyond that, the solution even has an ability to accelerate compliance for fintechs, something which it achieves through comprehensive fraud prevention controls and specialized advisory services.
Having referred to its possible use cases, we must move on to discuss some of the solution’s specific features, starting from its anti money laundering functionality. The functionality translates to 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. Markedly enough, Resecurity delivers actionable risk intelligence here so to allow identification of high-risk individuals and accelerate anti-money laundering controls for compliance purposes. Quite similar to that, the platform banks upon cutting-edge AI and graph-based analysis to identify wider fraudulent activities quickly and accurately. Then, there is the presence of cross-platform behavioral & environmental metrics that let you analyze geolocation with high accuracy, as well as behavior, network, software environment, time-based and device-specific data from customers so to enhance fraud detection across web and mobile interfaces. Further capable of studying device requests and user behavior to predict and prevent fraud attempts, the platform also has the means to utilize AI and machine learning to offer preemptive insights to stop fraud before it can even impact operations. This it does through an ongoing financial crime intelligence collection, a collection which packs together payment data, as well as a lowdown on activity of threat actors.
Joining the same is a superior device fingerprinting mechanism, which uses proprietary technology to distinguish legitimate users from potential threats, including infected and spoofed devices. Rounding up highlights would be the solution’s platform-agnostic mobile SDK that 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.
