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AU10TIX prevents about $7.5B of identity fraud in 2024

Monday, January 13, 2025 — 13:06:54 (EST)

TEL AVIV, Israel – January 14, 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.

The company also strengthened its global presence through the establishment of its Bengaluru office in India.

"These achievements reflect our ongoing commitment to innovation and excellence in identity verification," said Dan Yerushalmi, CEO of AU10TIX. "Our continued growth and expansion, particularly in developing innovative solutions and building our global team, positions us strongly to address evolving fraud challenges across industries."

AU10TIX continues to refine its comprehensive suite of solutions, including advanced identity verification tools, fraud prevention systems, and innovative risk assessment models. The company's expansion in India further demonstrates its commitment to providing global coverage and support for its growing customer base.

About AU10TIX 

AU10TIX plays a pivotal role in establishing trust between individuals/companies and digital systems. Founded in 2002, it is the global leader in identity verification and management, protecting the world’s largest brands against advanced fraud. The company’s future-proof product portfolio helps businesses provide frictionless customer onboarding and verification in 4-8 seconds while staying ahead of emerging threats and evolving regulatory requirements. AU10TIX offers the world’s only 100% automated global identity management system, as well as the industry’s only solution that can detect organized mass attacks by analyzing traffic patterns and cross-checking data in a consortium of more than 60 major companies. With its deep roots in airport security, AU10TIX has authenticated billions of identities and prevented over $18 billion in identity fraud. AU10TIX is a subsidiary of ICTS International N.V. (OTCQB: ICTSF). Connect with AU10TIX on LinkedIn and on X at @AU10TIXLimited. For more information, visit AU10TIX.com.

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Source: Company press release.