AU10TIX Prevents an Estimated $7.5 Billion of Identity Fraud in 2024
By Lauren Hinton · 14 January 2025
AU10TIX, a global leader in identity verification and management, today announced that its solutions protected businesses worldwide against an estimated $7.5 billion in fraud in 2024, totaling approximately $24 billion since 2021. This is one of several significant achievements for the company in a year defined by international growth and portfolio expansion.
Synthetic AI-generated fraud accounted for 75% of the total fraud losses that AU10TIX prevented in 2024, highlighting the growing sophistication of cyber threats. AU10TIX provided comprehensive fraud protection for customers spanning all critical sectors, including payments, cryptocurrency and trading, shared economy, and social media.
In 2024, AU10TIX expanded its product portfolio with several key innovations:
- Know Your Business (KYB) solution: This comprehensive solution integrates seamlessly with existing KYC processes to enhance business verification.
- Digital ID Verification Hub: This one-stop platform for secure and scalable identity verification features enhanced support for digital ID types.
- Risk Assessment Model: AU10TIX introduced this free, data-driven tool to help organizations identify vulnerabilities and improve their fraud prevention strategies.
- Anti-Money Laundering (AML) solution: This advanced AML solution is tailored to meet compliance standards while reducing risk.
- Workflow Flexibility Powered by Orchestration Engine:Enables seamless tailoring to clients’ unique business needs, ensuring frictionless identity verification processes with fallback to document-based IDV when necessary.
Companies in this story: AU10TIX
People in this story: Dan Yerushalmi