Real-Time Dark Web Intelligence Empowers Financial Institutions, Card Issuers, and E-commerce Providers to Prevent Payment Fraud
BOSTON, Sept. 8, 2022 /PRNewswire/ — Recorded Future, the world’s largest intelligence company, today announced the expansion of its Intelligence Cloud with Payment Fraud Intelligence, a single source of truth for identifying, mitigating, and preventing payment fraud. Payment Fraud Intelligence enables those focused on payment fraud, including financial institutions, card issuers, and e-commerce providers to disrupt the entire payment fraud lifecycle by helping to detect e-skimmer infrastructure and compromised cards associated with malicious activity.
Payment fraud is a multi-billion dollar industry impacting merchants, cardholders, and financial institutions, and will result in over $400 billion in losses globally over the next decade. Historically, the industry has taken a reactive approach, waiting until fraudulent purchases take place, then attempting to limit losses, resulting in further reputational damages and financial losses. Recorded Future has unparalleled visibility into the complete payment fraud infrastructure, enabling clients to disrupt criminal activity by proactively detecting payment data being sold on the dark web, finding e-commerce sites infected with e-skimmers, and mapping thousands of the tester merchants used to validate cards before they’re used fraudulently.
Recorded Future’s Payment Fraud Intelligence enables payment fraud teams to proactively:
- Pinpoint compromised common points of purchase (CPPs)
- Enhance risk-exposure models and lower fraud potential
- Improve average fraud rate metrics across an entire card portfolio
- Detect attacker infrastructure being used to skim payment card data
With Recorded Future Payment Fraud Intelligence, the Card Fraud Prevention team at Swedbank is automatically alerted when its cards have been compromised and posted for sale on the dark web, enabling them to preemptively block and replace cards before fraud can occur.
"Recorded Future integrates with fraud detection systems to improve efficacy of detection algorithms and proactively scans the dark web to find compromised cards and reveal attacker infrastructure to identify active infections and full exposure periods. Now, financial institutions can develop and implement effective mitigation strategies to counter the effect of payment card compromises and subsequent fraud attacks before attacks can occur." – Andrei Barysevich, Vice President, Fraud Solutions, Recorded Future
Learn more about Recorded Future Payment Fraud Intelligence: https://www.recordedfuture.com/platform/payment-fraud-intelligence
Request a demo of Recorded Future Payment Fraud Intelligence: https://go.recordedfuture.com/demo
Recorded Future is the world’s largest intelligence company. Recorded Future’s Intelligence Cloud provides complete coverage across adversaries, infrastructure, and targets. By combining persistent and pervasive automated data collection and analytics with human analysis, Recorded Future provides real-time visibility into the digital landscape and empowers clients to take proactive action to disrupt adversaries and keep their people, systems, and infrastructure safe. Headquartered in Boston with offices and employees around the world, Recorded Future works with over 1,500 businesses and government organizations across more than 64 countries. Learn more at recordedfuture.com.