Deduce Amasses 400M+ Anonymized User Profiles to Stop Online Identity Fraud

Deduce, the leading provider of cybersecurity solutions powered by real-time identity network data, today announces that it now maintains - within global data privacy rules, including GDPR and CCPA - over 400M US user profiles that provide a baseline for determining whether users are who they claim to be at the point of online interaction. 

“Identity fraud is a huge problem facing every industry that registers or logs in customers but many companies are left with very small pools of customer data that they augment by scraping the dark web for compromised credentials - an approach similar to telling you to be careful because your house burnt down,” explains Ari Jacoby, Deduce CEO and co-founder. “A real-time, identity network that can draw from over 400M user profiles with billions of daily online interactions across hundreds of thousands of websites and over one hundred attributes allows businesses to detect and see threats before crooks even target an account, which is like pointing out smoke so you can prevent the fire in the first place.”

The world’s largest tech companies, such as Facebook, Apple, Amazon, Microsoft, and Google (FAAMG) use vast amounts of data collected from their own users along with advanced algorithms to spot potentially fraudulent behavior and notify account holders via familiar email and mobile alerts. Companies without access to such Goliath resources are too often left to make do with less effective tools that leave their own account holders vulnerable. 

Deduce’s massive, constantly updated set of user profiles is drawn from over 150,000 websites and provides real-time analytics profiling and scoring based on over a billion daily user interactions. Powerful algorithms crunch the data to spot potentially fraudulent activity and provide early warning of potential threats.

The result of ATO fraud is costly in many ways. Lost revenue, lost customers, brand damage, chargeback fees, and regulatory penalties. According to Credit Union Times, For every dollar of fraud, U.S. eCommerce merchants lose $3.90, and 49% of customers won’t come back after experiencing fraud with a merchant.

Finally, powerful fraud-spotting tools once reserved for FAAMG are now available to companies of any size to help prevent:

Account Opening/New Registration Fraud - augments a company’s existing fraud or know-your-customer (KYC) solutions with digital insights to stop fraudsters from impersonating compromised user identities

Account Takeover - detects and allows quick responses to irregular or anomalous user account activity, bolstering defenses and stopping account takeover in its tracks

Account Anomalies - measures deviations against known and expected account interactions to detect security threats

Deduce’s innovative approach to building the world’s largest, privacy-compliant, consumer identity graph resulted in the company’s selection as a finalist in the RSA Innovation Sandbox competition along with an honorable mention from Fast Company’s World Changing Ideas Awards. 

Watch this explainer video to see how Deduce uses its real-time identity network to spot and prevent online fraud: https://www.youtube.com/watch?v=uPxjIqURkiw

About Deduce
Deduce protects businesses and their customers from unauthorized account access, data leakage, and identity fraud. We eliminate fraud in real-time using risk algorithms and behavioral analytics across the most comprehensive network of consumer identity data. This empowers any organization to harness the value of collective identity-based threat intelligence and cybersecurity. The company is based in New York and was founded in 2019. For more information, visit Deduce.com.

Contact
Andy Sheldon
Vice President of Marketing
andy.sheldon@deduce.com 
650.218.4712

###

Contact Information

Andy Sheldon

Vice President of Marketing

Deduce

(1) (650)218-4712

andy.sheldon@deduce.com