Nasdaq Verafin partners Q6 Cyber for dark web fraud intelligence

This partnership between Nasdaq Verafin and Q6 Cyber marks a significant shift in how lenders identify fraudulent activity. By combining dark web intelligence with bank consortium data, the platform can now spot compromised credentials and stolen identities before they are used to apply for credit. For retailers and operators, this is a critical development in the fight against 'friendly fraud' and synthetic identity theft that often plagues consumer financing applications. The integration allows financial institutions to see when customer data is being traded in underground forums. Instead of reacting after a fraudulent loan has been funded, lenders can now block high-risk applications at the point of sale. This helps protect your business from chargebacks and ensures that the financing process remains smooth for legitimate customers. As fraud tactics become more sophisticated, the tools used by your lending partners must keep pace to prevent losses that ultimately drive up the cost of credit for everyone.

Source: Finextra — Lending

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