Advanced Fraud Solutions has partnered with threat intelligence company Q6 Cyber to combat rising cases of card fraud in the US.
As per the agreement, Q6 data feeds will directly integrated into Advanced Fraud Solutions’ card-fraud prevention platform TrueCards.
TrueCards is designed for proactive monitoring of card transactions for breaches, test sites and common points of compromise (CPC).
Meanwhile, Q6 Cyber monitors the ‘digital underworld’ such as the DarkWeb, and provides actionable insights for financial institutions to act against threats.
Q6 data will be directly fed into the back-end of TrueCards.
The partners claim that the integrated solution will proactively detect hacked or compromised payment cards, even before the cards are used fraudulently.
In addition, the solution will automate the CPC analysis for optimised detection of breached merchants, allowing fraud investigators to proactively stop, block and reissue compromised or stolen cards.
Q6 Cyber CEO Eli Dominitz said: “Together, we deliver more intelligence at faster rates, enabling our clients to identify common points of compromise early on in the fraud cycle and act swiftly to reduce their exposure.”
Advanced Fraud Solutions vice-president of strategic partnerships Ted Kirk said: “The Q6 team has an unsurpassed depth of knowledge and experience monitoring Dark Web and Deep Web sources that are otherwise inaccessible to our joint financial institution clients.
“By combining this powerful intelligence with our market-proven TrueCards tool for CPC location, we are delivering a best-in-class solution for fraud investigators looking to prevail over the stubborn threat of losses due to card fraud.”