SpyCloud’s new approach to fraud prevention, Identity Risk Engine, recognized by industry leaders.
Austin, TX – June 17, 2022 – SpyCloud, the leader in account takeover and fraud prevention, was honored this week by Card Not Present in their annual CNP Awards as the Best Anti-Fraud Solution, Startup.
This category honors new solutions that best identify and prevent fraudulent activity while enabling merchants to accept as many transactions as possible. SpyCloud Identity Risk Engine was launched in January 2022 and is a first-in-class fraud prevention solution that uniquely leverages recaptured data from the criminal underground and advanced analytics to predict users’ risk of account takeover, synthetic identity, and fraud tied to malware. It seamlessly fits into existing control frameworks, providing deep insights based on users’ exposure in breaches and malware infections.
“For the last 6 years we have been collecting, curating, and analyzing data from the criminal underground to help businesses prevent breaches and ransomware from compromised users, but with SpyCloud Identity Risk Engine, we are leveraging our 200+ billion recaptured data assets to give fraud practitioners actionable insight into the risks they face when consumers try to make a transaction or open a new account.
This product is changing fraud prevention leaders’ understanding of those interacting with their business. It’s enabling accelerated revenue, reduced losses, minimized manual reviews, and stronger KYC while enhancing the customer experience. We’re truly honored to be recognized by the Judges of the CNP Awards for this solution at this stage in our development and we congratulate all of the other winners in their respective categories.”
– Chip Witt, VP of Product Management, SpyCloud
SpyCloud transforms recaptured data to protect businesses from cyberattacks. Its products leverage a proprietary engine that collects, curates, enriches and analyzes data from the criminal underground, driving action so enterprises can proactively prevent account takeover and ransomware, and protect their business and consumers from online fraud. Its unique data from breaches, malware-infected devices, and other underground sources also powers many popular dark web monitoring and identity theft protection offerings. SpyCloud customers include half of the ten largest global enterprises, mid-size companies, and government agencies around the world. Headquartered in Austin, TX, SpyCloud is home to over 150 cybersecurity experts who aim to make the internet a safer place.
To learn more and see an overview of your company’s exposed data, visit spycloud.com.