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NICE Actimize launches Dark Web Intelligence solution for Proactive Fraud Prevention

By Edlyn Cardoza

November 17, 2021

  • AML
  • Compliance
  • Fraud Management

NICE Actimize, NICE, IFM-X Dark Web Intelligence, USAThe growing amount of information on the Dark Web presents a range of complex fraud schemes and typologies that are increasingly difficult for financial service organizations (FSOs) to detect and stop. NICE Actimize, a NICE business, recently announced its IFM-X Dark Web Intelligence solution to address this problem. Deploying comprehensive, multi-language coverage of the Dark and Deep Web, malware networks, private messaging platforms, and underground fraudster infrastructure and communities, the solution helps FSOs resolve the pervasive challenges they face in detecting dynamic fraud and account takeover threats.

Leveraging the power of NICE Actimize’s IFM-X industry-leading enterprise fraud management platform, the IFM-X Dark Web Intelligence solution provides immediate fraud prevention so FSOs can efficiently mitigate customer account takeover attempts, combat card fraud without causing undue customer friction, and block mule activity. The solution utilizes behavioural technology that provides targeted, continuously updated intelligence, and monitoring which can be deployed across post-breach and pre-fraud scenarios.

“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 behavioural analytics,” said Craig Costigan, CEO, NICE Actimize. “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. The solution helps organizations proactively safeguard their customers when they are unknowingly compromised, delivering a better customer experience and preventing loss to the firm.

NICE Actimize is the largest and broadest provider of financial crime, risk, and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumers’ and investors’ assets by identifying financial crime, preventing fraud, and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading.

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