Fraud.com Launches to Aid iGaming Industry
Fraud.com, a new platform dedicated to combating fraud in the gambling industry, has just launched. The website is backed by Telefónica Tech Ventures, the investment arm of Spanish telecoms giant Telefónica.
The platform brings together three systems in one end-to-end solution that will help streamline fraud detection and prevention. According to Fraud.com, the three products, Udentify, aiReflex, and fcase, will give businesses the ability to detect, manage and report fraud with greater ease and efficiency than ever before.
Udentify uses AI technology to verify people’s identity, aiReflux is a fraud prevention suite that can help businesses identify and stop complex fraud scenarios, and fcase serves as a centralized automation hub that brings everything together.
Fraud.com released a statement in which it discussed how criminals are becoming ever more sophisticated and that without new technology, fraud-related financial losses are sure to grow exponentially.
It’s both an exciting and a daunting time to be working in the field of fraud detection and prevention. On the one hand, the growing threat to businesses and customers is worrying; on the other, the pace at which technology is developing to address more sophisticated attacks, such as deep fakes, is inspiring. It can be tempting to think fraud is only a problem for banks or payment operators, but the reality is far wider. Any organization that needs to verify customer identities or handle transactions — including gaming companies — is vulnerable to fraud, and as the fraudsters become more sophisticated, so must the systems that stop them.