Kaspersky Fraud Prevention Integrated With Indacoin’s Anti-Fraud System
Cryptocurrency’s main benefit is the ability to conduct trusted transactions swiftly. Anonymous and decentralized nature of transfers are leveraged by fraudsters to trick legitimate crypto investors and wash their money. Further they launder funds from stolen cards or using leaked card details. They also manipulate crypto exchange users to transfer money into another account by impersonating security service members and use tools for remote access. As this software seems to be legitimate they are not caught under traditional security solutions. It is important to identify these damaging transactions and block them as soon as possible to facilitate legitimate transfer of funds without affecting its speed.
Indacoin facilitate fiat-to-crypto exchange and provide simple verification processes which in turn allow customers to use its services without additional difficulties. To eliminate risks, Indacoin has turned to the Kaspersky Fraud Prevention Service. The Automated Fraud Analysis uncovers fraudulent transactions and detect fraudsters through global device reputation and extended fingerprinting analysis.
With Kaspersky Fraud Prevention being integrated with Indacoin’s anti fraud system, its efficiencies rose by thirty eight percent.
Anvar Sidorov, Director of Partnerships at Indacoin, said: “The crypto exchange has many unique features, we share the main risks of financial institutions: security of cards, payment information, security of personal accounts and safety of client’s funds. The implementation of Kaspersky Fraud Prevention helped to identify highly targeted fraud schemes, identify dishonest users with advanced precision and implement machine learning in the verification system.”
“We are delighted to be chosen by Indacoin, and it is always great to see a business take cybersecurity seriously. Fraudulent transactions are common on crypto exchange services and this has the potential to damage investor loyalty in this new sphere. By integrating Kaspersky Fraud Prevention with their exchange, Indacoin is positioning itself as a trusted partner for cryptocurrency investors in what is a highly competitive market,” said Claire Hatcher, Head of Business for Kaspersky Fraud Prevention.