Digital payments platform Wirex has announced an enhancement in its measures to combat Dark Web activities and money mule threats. The company has incorporated ZeroFOX‘s Dark Web Monitoring tool into its system, creating a unified solution. This will result in a combination of human and artificial intelligence actively scanning the Dark Web for potential dangers like leaked data, compromised credentials, and other sensitive information in real-time.
ZeroFox is a US-based cybersecurity company that provides organisations with comprehensive visibility and protection across the surface, deep and dark web.
This approach allows for early detection and prompt intervention. Wirex benefits from ZeroFox’s advanced monitoring capabilities, utilising a system that issues detailed alerts about potential threats, including their severity and escalation status, ensuring a quick and effective response to incidents.
A significant aspect of this initiative is the effective combat against mule accounts, a critical concern in the financial industry. The integrated system is adept at identifying and responding to suspicious account activities, thereby significantly reducing the risk of financial fraud and reinforcing the security of user transactions.
Tackling the challenges posed by the Dark Web and mule accounts
Pavel Matveev, CEO & Co-founder of Wirex, commented: “It is a significant step forward in our continuous commitment to improving online security. The cutting-edge technology offered by ZeroFox has played a crucial role in strengthening our defenses, especially in combating the rise of the money mule accounts. This has reinforced our standing as a reliable financial platform.”
Wirex’s integration of a Dark Web Monitoring tool, as a complement to existing measures, underscores the company’s ongoing commitment to security.
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Wirex promises compliance with Know-Your-Customer regulations to ensure financial integrity and security. Wirex places a high priority on securing user accounts by implementing a robust account verification process. This proactive measure is designed to protect accounts from unauthorised access and potentially fraudulent activities. By confirming user identities, Wirex aims to assure users that their accounts and funds are safeguarded, enhancing overall account security.
As part of this new development, Wirex hopes to set new standards in financial security, tackling the challenges posed by the Dark Web and mule accounts in the digital finance landscape.