NICE Actimize goes after the Dark Web

Rick Steves

The enterprise fraud management platform provides immediate fraud prevention for customer account takeover attempts, card fraud, and mule activity.

NICE Actimize has launched a multi-language coverage of the Dark and Deep Web, malware networks, private messaging platforms, and underground fraudster infrastructure and communities.

The solution is named IFM-X Dark Web Intelligence and helps financial service organizations resolve the pervasive challenges they face in detecting dynamic fraud and account takeover threats.

The growing amount of information on the Dark Web presents a range of complex fraud schemes and typologies that are increasingly difficult for firms to detect and stop.

The enterprise fraud management platform provides immediate fraud prevention for customer account takeover attempts, card fraud, and mule activity.

The solution helps organizations proactively safeguard their customers when they are unknowingly compromised, delivering a better customer experience and preventing loss to the firm.

The solution utilizes behavioral technology that provides targeted, continuously updated intelligence, and monitoring which can be deployed across post-breach and pre-fraud scenarios.

Craig Costigan, Chief Executive Officer at NICE Actimize, said: “Now more than ever, financial services firms need to be aware of dark web activity to protect their firm and customers. NICE Actimize supports them with enhancements to their existing fraud prevention efforts, which includes meaningful intelligence and behavioral analytics. This approach ultimately strengthens their anti-fraud teams, strategies, and operations.”

The Dark Web Intelligence solution offers three different, curated data feeds and actionable dark and deep web intelligence across customer account takeovers, compromised payment cards, and mule accounts.

NICE Actimize has rolled out several products throughout the year and has augmented its anti-money laundering solutions with real-time entity resolution capabilities from Senzing, an innovator in the entity resolution space.

The move is meant to secure a single and accurate record of customer information as anti-money laundering programs shift from transactional analysis to a more focused, customer-centric analysis.

In May, NICE signed a distribution partnership deal with Refinitiv in order to expand its customer base throughout the Asia-Pacific region.

In March, the firm partnered with Finastra in order to deliver its Xceed cloud-native financial crime platform to Finastra’s customer base, via its FusionFabric.cloud open innovation platform.

The AI-powered platform provides AML and fraud solutions, offering financial crime and compliance with real-time behavioral analytics and machine learning capabilities.

NICE Actimize has recently launched WL-X, a Watch List (WL) screening solution for data management, screening capabilities, and frictionless customer onboarding, using artificial intelligence.

The solution aims to “save the day” as financial services organizations find themselves increasingly challenged to efficiently screen parties and payments against required sanctions lists, which also include politically exposed persons (PEPs) and adverse media.

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