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AU10TIX Prevents $7.5 Billion in Fraud in 2024: A Milestone in Identity Verification Excellence

AU10TIX, a leading global provider of identity verification and fraud prevention solutions, announced a major milestone in 2024, successfully protecting businesses against an estimated $7.5 billion in fraud. This figure contributes to the company’s remarkable total of approximately $24 billion in fraud prevented since 2021. The year 2024 was particularly significant for AU10TIX, marked not only by significant financial achievements but also by the company’s international growth and a portfolio that expanded to meet the evolving fraud challenges of today’s digital world.

A significant portion of the fraud that AU10TIX helped prevent in 2024 was related to synthetic AI-generated fraud, which accounted for 75% of the total losses. This statistic underscores the growing sophistication of cyber threats and the increasing complexity of online fraud tactics. As businesses across various sectors face escalating threats, AU10TIX has proven to be an essential partner in the fight against fraud, providing robust protection for industries that rely on secure and seamless digital identity verification.

Key Innovations and Expanded Product Portfolio

Throughout 2024, AU10TIX introduced several key innovations, enhancing its fraud protection capabilities and strengthening its position as a leader in identity verification and fraud prevention. These innovations were designed to address the diverse needs of businesses while improving efficiency and reducing risk.

Know Your Business (KYB) Solution
AU10TIX launched its comprehensive KYB solution, designed to seamlessly integrate with existing Know Your Customer (KYC) processes. This enhancement provides businesses with a more streamlined and robust approach to verifying the identities of corporate clients and partners, ensuring compliance with regulatory requirements and preventing fraudulent activities in the business ecosystem.
Digital ID Verification Hub
To further improve security and scalability, AU10TIX introduced its Digital ID Verification Hub, a one-stop platform for secure identity verification. This new platform offers enhanced support for digital ID types, helping businesses stay ahead of emerging threats by adapting to the evolving landscape of digital identity.
Risk Assessment Model
AU10TIX also launched a free, data-driven Risk Assessment Model aimed at helping organizations identify vulnerabilities and improve their fraud prevention strategies. By offering this model as a resource, AU10TIX empowers businesses to proactively assess their risk levels and implement necessary safeguards before fraud incidents occur.
Advanced Anti-Money Laundering (AML) Solution
The company unveiled its advanced AML solution, tailored to meet the specific compliance standards of various industries while reducing the risk of financial crime. This solution is designed to help businesses better adhere to regulatory requirements, enhancing their overall fraud prevention strategies and minimizing their exposure to potential financial penalties.
Workflow Flexibility Powered by Orchestration Engine
The introduction of AU10TIX’s Orchestration Engine added significant value by enabling seamless customization of identity verification workflows. Businesses now have the ability to tailor processes to their unique needs while ensuring that identity verification remains smooth and frictionless. In cases where additional verification steps are needed, such as document-based identity verification, the system provides a fallback option to maintain accuracy and reliability.

Global Expansion and the Bengaluru Office

In 2024, AU10TIX also strengthened its global presence by opening a new office in Bengaluru, India. This expansion is a testament to the company’s ongoing commitment to offering global coverage and support for its expanding customer base. With a presence in key global markets, AU10TIX is well-positioned to meet the increasing demand for secure and scalable identity verification solutions across multiple industries.

Commitment to Innovation and Excellence

Reflecting on the company’s accomplishments, Dan Yerushalmi, CEO of AU10TIX, stated, “These achievements reflect our ongoing commitment to innovation and excellence in identity verification. Our continued growth and expansion, particularly in developing innovative solutions and building our global team, positions us strongly to address evolving fraud challenges across industries.” AU10TIX’s focus on continuous innovation ensures that it remains a trusted partner for businesses that need cutting-edge fraud prevention solutions to protect their operations and customers.

Conclusion: AU10TIX’s Pivotal Role in Protecting Businesses

AU10TIX’s significant achievements in 2024, including the prevention of $7.5 billion in fraud, highlight the critical role the company plays in safeguarding businesses from increasingly sophisticated fraud threats. With an expanding portfolio of advanced solutions and a growing global footprint, AU10TIX remains at the forefront of the identity verification industry. By continuously innovating and adapting to the changing landscape of digital fraud, AU10TIX is positioning itself as an indispensable ally for businesses seeking to protect their customers and operations.