iDenfy Announces a New Weapon in Online Fraud Detection

By: Issuewire

Innovative Proxy Detection protects against anonymous fraudulent IP’s.

Kaunas, Kauno May 12, 2021 ( - Today, iDenfy adds another layer of security for global online financial institutions as well as any company where security and anti-fraud are essential for conducting secure online transactions. After a few months-long beta testing, iDenfy believes that their new essential security tool which detects anonymous fraudulent IP's needs to be released and implemented for the security of their online clients where identity verification is essential.

While clearing Beta Testing, this latest innovation seeks to unmask IP's. Proxy Detection is a weapon in peeling away the layers of virtual IPs. "Over 95% of online fraud uses some form of IP masking. These may include Proxies, Virtual Private Networks (VPN's), SOCKS and other nefarious tricks to conceal location", said iDenfy CEO Domantas Ciulde. iDenfy has extensively researched the problem and now presents a solution for online businesses. This will escalate the approval process to meet the new Proxy Detection protocols leading to additional actions to verify or to decline the transaction.

Domantas Ciulde states that "I am proud that our team is tackling the black market, which thrives on fraud, head-on. We will continuously explore, research, and develop the necessary security tools to detect any fraudulent activity in the global marketplace". 

Proxy Detection algorithm developed by iDenfy engineers, coders, and IT experts to detect, identify and target potentially fraudulent transactions from masked IPs. In initial testing, iDenfy is making a live active updated version of Proxy Detection available now to current customers and clients of their integration products. 

IDenfy is a Lithuania-based tech company that provides identity verification services to worldwide online financial institutions. iDenfy system allows new and existing customers the ability to verify identity through a smartphone or PC. Their technology utilizes a proprietary application that combines redundant AI processes with 24/7 human oversight supervision and access to law enforcement and regulatory national and international databases. The iDenfy white label application offers a constantly updated database and algorithm to globally comply with anti-money laundering and fraud rules, regulations, and laws. 

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Source :iDenfy

This article was originally published by IssueWire. Read the original article here.

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