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iDenfy announces new product for fraud detection and monitoring

Thursday 18 November 2021 14:21 CET | News

Lithuania-based tech startup iDenfy has announced a fraud scoring tool that will be used by financial institutions to provide fraud detection and monitoring services.

iDenfy’s newest feature will monitor the financial transactions between financial institutions, merchants, and customers to assess the risk of each transaction. iDenfy will scan databases, including the black market, to provide risk scores to the potential customer. Measuring these risks will allow iDenfy to detect fraudulent activity and prevent the completion of unwanted transactions.

When a user accesses the system, iDenfy’s new scoring tool will begin scanning the first name, address, phone number, IP address, and even the fingerprint assigned to the device. It will verify whether these parameters have been used in recent criminal activities.


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Keywords: iDenfy, fraud prevention, digital identity, fraud detection, risk management, data
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Lithuania
This article is part of category

Securing Transactions