Account fraud detection and prevention company Verosint announced it has launched a tool which predicts the likelihood of fraud based on capturing and tracking data about each user, enriching that data with open source intelligence (OSINT), and analyzing relationships and patterns to determine risk.
Through the patent-pending SignalPrintTM technology, Verosint assesses fraud risk and orchestrates workflows based on its Risk Decision Engine, ensuring that legitimate users are granted a smooth, low-friction transaction path, whereas suspicious users are automatically challenged or blocked to prevent fraudulent behavior.
“Account fraud is more prevalent, more sophisticated, and more capable of disruption than ever, and organizations need to proactively get ahead of fraud by blocking bad actors before they gain access,” Verosint CEO and founder Stephen Shoaff said.
The tool combines server-side data about the user with behavioral analytics to create a unique identifier for each user, which is then enriched with open source intelligence (OSINT) data points to generate a holistic profile of the user and a corresponding risk score, the company said. It then analyzes the relationships between users and flags anomalies based on patterns of behavior for a single user or related users, allowing the detection of duplicate accounts, shared accounts, or a web of connected accounts that may be a bot/click farm. The risk-based decisioning component combines risk signals with customizable rules to define how users can access systems and data. High-risk users can be challenged or blocked, while low-risk users get frictionless access.
The company also announced a new integration with Ping Identity, an intelligent identity solution for the enterprise. The partnership enables mutual customers to analyze digital identities across devices at login to determine account fraud risk.
Founded in 2021, Verosint provides account fraud detection and prevention services by combining verified OSINT, identity graphing techniques and risk signal orchestration. Venture capital firm Bill Wood Ventures and early-stage venture capital firm Silverton Partners are investors in the company.
Image source: verosint.com
