One of cryptocurrency’s main benefits is the ability to conduct trusted transactions swiftly. However, the anonymous and decentralized nature of these transfers can be leveraged by fraudsters to ‘wash’ money or trick legitimate crypto investors. In order to keep their customers’ investments truly clean, exchange service Indacoin has adopted Kaspersky Fraud Prevent to halt this foul practice.
Indacoin provides a simplified verification process, which allows customers to use its partners’ services without any additional difficulties. The Automated Fraud Analysis uncovers fraudulent transactions in real-time. It also can detect fraudster groups through global device reputation and extended fingerprinting analysis, so it is capable of detecting suspicious activity before the act of fraud has actually damaged the business.
As a result of Kaspersky Fraud Prevention being integrated into Indacoin’s antifraud system, its efficiencies rose by 38%. The most noticeable improvement was the ability to identify operations when operations were conducted on a client’s computer or phone via remote access.
“We are delighted to be chosen by Indacoin, and it is always great to see a business take cybersecurity seriously. Fraudulent transactions are common on crypto exchange services and this has the potential to damage investor loyalty in this new sphere. By integrating Kaspersky Fraud Prevention with their exchange, Indacoin is positioning itself as a trusted partner for cryptocurrency investors in what is a highly competitive market,” comments Claire Hatcher, Head of Business for Kaspersky Fraud Prevention.