AU10TIX announced expanded capabilities to strengthen fraud mitigation defense through its fraud intelligence platform, INSTINCT.
INSTINCT, which uses traffic-level intelligence sourced from a global consortium of neural-network partners, now can deliver protection for stopping fraud like swarm attacks, deep fakes and synthetic identities.
Among other new benefits, INSTINCT now sits alongside an organization’s native identity verification solution, or layers onto AU10TIX’s core verification engine for a 2-in-1 defense. Additionally, the platform now offers risk management and mitigation.
“More than just ‘a world first’, INSTINCT is the only fraud intelligence platform of its kind. You can get automated fraud intelligence at scale with an emphasis on privacy protection to defend your business. We are proud to upgrade it based on feedback from our customers, and take fraud prevention to the next level,” said Nir Stern, VP Product, AU10TIX.
AU10TIX has prevented $2 billion in fraud related losses to businesses since the start of 2022. INSTINCT alone has increased detection of synthetic fraud by over 200 percent this year. Likewise, the platform saw a 110 percent increase in all detected potential fraud against the previous six months.
The United States topped the list with 35 percent of all fraud detected, followed by Australia (7 percent), Vietnam (5 percent), United Kingdom (4 percent), and China (3 percent). Face recognition was the most effective type of link-analysis method to detect fraud in the past quarter.
Traditional identity verification solutions are essential, but alone they are not enough. What differentiates INSTINCT and makes it so effective is that it is powered by data signals from a group of leading global businesses, INSTINCT’s upgraded fraud-mitigation capabilities include:
- More seamless, easy integration on top of any other existing identity verification solution provided by AU10TIX or any other vendor on the market.
- Manual as well as automatic triggers, either by a text query (name, phone or other personal information) or scanning an ID document.
- The ability to scan and neutralize fraud threats already lurking in an organization’s system, even after front-line defenses are penetrated.
- Recognition and proactive allocation of ‘trusted user’ identity reputation scoring to legitimate customers and legitimately participating partner services.
“The way cybercriminals behave is not siloed; it’s networked. How do we fight them in the same way? We’re learning that businesses must be adaptive and collaborative to compete. Fraud is not a problem that any one organization, industry or government can tackle independently. It requires an ecosystem approach,” said Carey O’Connor Kolaja, CEO, AU10TIX.
Since its inception, INSTINCT continues to see success by leveraging signals from one organization to detect similar patterns across all other organizations on the network.