The first-ever collaboration platform for scaling fraud intelligence, together Wednesday, 20th May: AU10TIX, a global cloud-based, machine learning, I.D.
verification, and authentication platform, has launched INSTINCT: an autonomous and anonymous platform designed to unify the business community around global identity signals that can fight synthetic identity fraud.
The collaborative platform pairs select signals with adaptive analytics to detect and share identity risk based on historical behaviors, emerging patterns, and facts across the network of participating organizations.
“We are seeing emerging fraud techniques that generate high-quality forgeries which are penetrating the first line of defense,” explained Ron Atzmon, Managing Director, AU10TIX.
“Multiple attack cases have been reported in a variety of markets using high quality fake or counterfeit ID images, or images submitted before the service provider was properly protected.” INSTINCT is aimed at detecting criminal attempts to create multiple accounts using fraudulent ID credentials that have already penetrated one organization’s system without detection.
Such attacks are easier to implement against Customer-Not-Present services
where customer onboarding and risk mitigation are based on customer-submitted images of ID documents.
“As I said in my keynote at KnowID
we are now in a cyberwar,” states David Birch, an internationally recognized thought leader on digital identity and a member of the AU10TIX advisory board.
“The threat is no longer the stereotypical lone hacker at a keyboard in the middle of the night.
Today and forever, fraud is an adversary that is global, organized, interconnected, and smart.” To combat this.
AU10TIX utilized the same method
inverted its intention, and created INSTINCT.
INSTINCT leverages signals from one node [an organization] to detect similar patterns across all other nodes on the network.
The platform was designed to allow organizations to analyze collective insights while participating as an isolated node or as an anonymous node within a trusted ecosystem.
INSTINCT is available at no charge for all AU10TIX customers in 2020 and already multiple businesses are participating.
Click for Demo>> “Fraud is a war between networks,” offers Birch.
“INSTINCT is a way for businesses to make the good guys’ network stronger
It means a global scaling-up of fraud intelligence while at the same time.
Protecting privacy.” Once subscribed as an AU10TIX customer
an organization can immediately benefit from the platform’s service.
INSTINCT, in addition to being a proactive service stopping synthetic fraud at the proverbial ‘front door’ has been built with a collaborative alert system.
Fraudsters knock on our organization’s ‘door’ all day and, occasionally, they unlock the door and hide.
In these cases, if a fraudster previously slipped by one organization’s fraud rules and then is seen again, INSTINCT will flag the event, alert the nodes on the participating network and stop further fraud with that identity.
Carey Kolaja, President and COO, AU10TIX explained, “The main concept of building platforms fueled by anonymously shared signals is to generate insights based on different identities is emerging.
As identity verification moves from a one-time event to a continuous verification process, so should our detection techniques.
Together, we can build an autonomous ecosystem to keep our customers and businesses safe.” About AU10TIX AU10TIX, an identity management company, is headquartered in Israel and provides critical solutions and capabilities that enable companies and their customers to operate efficiently and responsibly in today’s digital world.
Over the last decade, AU10TIX has become the preferred solution for customer onboarding and customer verification automation.
The company’s proprietary technology provides results in less than 8 seconds, allowing companies to onboard faster, prevent fraud, meet compliance mandates, and importantly, establish trust with their customers.
AU10TIX recently announced an $80M investment from TPG and Oak ft/hc to fuel growth and innovation.
AU10TIX is a subsidiary of ICTS International N.V
For more information, visit AU10TIX.com For more information about INSTINCT, Click for Demo>>.