LONDON, June 07, 2021: The ai Corporation (ai), an FCA approved expert in payments, fraud and risk management, today added a Dark Web Managed Service to its suite of enterprise fraud solutions. Powered by Dark Web experts Skurio‘s cloud-based technology, the new managed service will enhance ai’s fraud capabilities even further. Enabling ai’s users in the payments and financial industries to protect themselves against cybersecurity threats emanating from the Dark Web.
The latest addition to the aiFraud Managed Service will provide users with best-in-class cyber intelligence. Automatically scanning websites, marketplaces, and forums to detect incidences of leaked sensitive data. Alerts are generated when any information matching specific search terms appears on the Dark Web, creating an early warning service to both businesses and consumers.
Dr Mark Goldspink, CEO of ai, says: “The battleground in the fight against fraud must now include the Dark Web. With the increase in fraudulent activity, it is vital that ai continues to find ways to mitigate and protect our customers even further. Our partnership with Skurio coupled with our automated aiAutoPilot MLTM technology will ensure that our existing users receive a best-in-class fraud prevention solution, which helps them stay ahead of the fraudster.”
According to ai’s data:
- Dark web traffic has increased by 300% over the last year, as more criminals look to commit fraud remotely due to COVID restrictions
- Despite increased levels of security, the price of stolen card details on the Dark Web has increased due to increased demand
- Last year (2020), stolen card testing fraud increased by up to 225% – these cards were almost certainly purchased on the Dark Web
Jeremy Hendy, CEO of Skurio, says: “We’re delighted to partner with ai to bring our Dark Web monitoring technology to their world-leading fraud detection and prevention platform. Cybercrime is now a trillion-dollar industry, where criminal gangs buy, sell, resell and trade compromised card information across an increasing number of shady forums and marketplaces. Skurio’s automated monitoring technology provides early warning when cardholder data is leaked, marketed or sold on the Dark Web, hacker forums, and dump sites, allowing ai customers to take immediate action to block compromised cards and cut losses from fraud.”
ai’s cloud-based, automated machine learning fraud detection and prevention tools help all types of issuers and acquirers, to monitor account and merchant activity using pre-authorisation and post-authorisation transaction data. Its unique self-service, fraud detection solutions are considered by many industry ‘thought leaders’ to be the best in the world.
Alongside stopping fraud, ai’s new flexible, aiAutoPilot MLTM orchestration technologies can be applied to many business processes, which require detailed consumer insight, including credit management, marketing (attrition) or pricing. ai’s solutions, including its’ state of the art’ machine learning/A.I, protect and enrich payments experiences for over three million multi-channel merchants, 100 banks and over 300 million consumer cardholders. ai also monitors over 25 billion transactions and authorisations each year.
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About The ai Corporation Limited (ai)
ai is trusted around the world for developing innovative technology that allows our customers to take control and grow profitably. Founded in 1998, we have a long track record of providing solutions to some of the world’s largest financial/payment institutions and international merchants. Our long-standing business partnerships are based on making things simple and providing self-service tools that allow our customers to take control. Through our relentless focus on these tools, we constantly strive to help our customers create highly profitable returns.
Take Control: Simply Stop Fraud.
Today, our unique self-service fraud detection solutions are considered by many industry “thought leaders” to be the best in the world. Our solutions, including our new “state of the art” machine learning/A. I, protect and enrich payments experiences for more than 100 banks, over three million multi-channel merchants and over 300 million consumer cardholders. We also monitor over 25 billion transactions and authorisations each year. These machine learning technologies are also flexible enough to be applied to other business processes that require detailed consumer insight for marketing or pricing.
Take Control: Simply Manage Omni-Channel Payments:
In line with customer demand, and as the payment value chain continues to converge, ai is positioning itself to take advantage of the evolution of payments digitation, by exploiting our fraud and analytical capabilities. To support this ai’s payment gateway, issuing platform and European Money Licence, mean we can act as a payment facilitator for our business partners, allowing them the luxury of rapidly launching new alternative payment types into the marketplace. A truly end-to-end offering which uses “state of the art” machine learning to manage omni-channel payment transactions securely via a cloud-based platform.
Find out how ai can provide innovative technology that will help you grow profitably by visiting www.aicorporation.com
Skurio, the innovative cybersecurity software company, helps customers protect themselves from digital risks. Our Digital Risk Protection platform combines automated, round the clock monitoring of the surface, deep and Dark Web with powerful analytics capabilities for cyber threat intelligence.
Skurio looks for cyber threats specific to an organisation, giving a single view of all data breaches and threats outside the network. Additional features help protect data across the supply chain with synthetic identities, and protect the business from brand impersonation with typosquatting monitoring. Open APIs integrate valuable alerts into SOC and ITSM workflow systems to automate breach response.
Founded in 2011, Skurio is based in Belfast with staff across the UK. Skurio’s highly skilled team of threat analysts work at the leading edge of business threat intelligence and digital risk protection, providing customers with the support they need to extend their in-house expertise. Our partner and distribution network serves hundreds of customers in 38 countries.
Find out more at: skurio.com