ZeroFox is a US-based cybersecurity company that provides extensive visibility and protection across the surface, deep and dark web. Thus, through these integrations, Wirex aims to benefit from ZeroFox's advanced monitoring capabilities, utilising a system that issues detailed alerts about potential threats, including their severity and escalation status. This will ensure a quick and effective response to incidents.
The integrated system is designed to identify and respond to suspicious account activities, thereby significantly reducing the risk of financial fraud and reinforcing the security of user transactions. This is particularly important in combating the rise of money mule accounts, which is a critical concern in the financial industry.
Wirex is a regulated financial institution that prioritises compliance with Know-Your-Customer (KYC) regulations to ensure financial integrity and security. To protect accounts from unauthorised access and potentially fraudulent activities, Wirex implements an advanced account verification process. Therefore, by confirming user identities, Wirex aims to assure users that their accounts and funds are safeguarded.
In addition to this, Wirex works closely with law enforcement agencies in sharing intelligence and combating financial and cybercrimes. The company also provides educational content to inform and empower its users about the importance of security and responsible financial practices. Moreover, Wirex closed a series of partnerships with banks or other financial institutions to provide tools for online security or to expand its suite of services.
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