Revelock Forms New Advisory Board to Advance Fight Against Online Bank Fraud
Brings together prominent industry experts in digital identities, threat intelligence, fraud and financial crime prevention
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MADRID, April 21, 2021 /PRNewswire/
Revelock, the pioneer in behavioral biometric based online fraud prevention formerly known as buguroo, today announced the formation of the
Revelock Advisory Board, as part of its ongoing mission to reverse the rising tide of online bank fraud.
Revelock
Comprising some of the industry s most respected experts in digital identities, threat intelligence, payments technology, fraud and financial crime prevention, the new Advisory Board brings invaluable external perspective to Revelock, gained both in the technology industry and at world-renowned financial institutions. The newly formed Board bolsters Revelock s ability to proactively protect banks, fintechs and their own customers from the growing volum
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(IIS), today announced it has acquired award-winning data breach intelligence fintech Breach Clarity. As a result of the acquisition, Sontiq’s products – IdentityForce, Cyberscout, and EZShield – all built on its tech-enabled IIS Platform, will have the proprietary capability, BreachIQ™. Sontiq is the first provider in the identity security marketplace to offer consumers an AI-driven and proprietary personalized risk score with actionable next-steps based on their unique data breach history.
BreachIQ is powered by a patented, AI-driven algorithm developed by Breach Clarity Co-founder
Jim Van Dyke, one of the country’s foremost data breach experts. Van Dyke is also the founder of Javelin Strategy & Research, serves as a board member of the Identity Theft Resource Center, and is a former board member of the U.S. Consumer Financial Protection Bureau (CFPB). Van Dyke will join Sontiq as SVP, Digital Financial Wellness. Breach Clarity Co-founder,
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Applying artificial intelligence to pinpoint unusual benefits applications; Improving fraud-fighting cooperation between the public and private sectors. “Government needs to invest in the right platforms that give them agility to respond to changing fraud tactics,” says Jatin Maniar, CEO at Singular Key, an identity verification company. “It is important to make sure that there is a unified platform approach to reduce the cost of integration, which also has the ability to add new technologies dynamically to respond to constantly shifting fraud tactics and attack vectors.” Stimulus Fraud In 2020, the CARES Act provided $2.2 trillion for COVID-19 relief programs and benefits, including small-business loans and unemployment compensation enhancement, to millions of Americans. But there were reports that fraudsters inappropriately obtained billions of dollars worth of benefits.