Darknet Criminal Scheme

NICE Actimize Launches RegTech Product to Scan Dark Web

NICE Actimize has launched IFM-X Dark Web Intelligence, a solution that deploys comprehensive, multi-language coverage of the Dark and Deep Web, malware networks, private messaging platforms, and underground fraudster infrastructure and communities.

Financial services firms have been increasingly under threat by fraud schemes occurring on the Dark Web. This solution aims to detect and put a stop to them, resolving the pervasive challenges stemming from dynamic fraud and account takeover threats.

The IFM-X Dark Web Intelligence solution provides immediate fraud prevention so firms can efficiently mitigate customer account takeover attempts, combat card fraud without causing undue customer friction, and block mule activity.

Craig Costigan, CEO, NICE Actimize, said: “Now more than ever, financial services firms need to be aware of dark web activity to protect their firm and customers. NICE Actimize supports them with enhancements to their existing fraud prevention efforts, which includes meaningful intelligence and behavioral analytics. This approach ultimately strengthens their anti-fraud teams, strategies, and operations.”

The Dark Web Intelligence solution offers three different, curated data feeds and actionable dark and deep web intelligence across customer account takeovers, compromised payment cards, and mule accounts.

NICE Actimize keeps earning the trust of the largest firms within the trading industry, including eToro and Rakuten.

eToro deployed NICE Actimize’s SURVEIL-X Markets Surveillance solution to augment its critical compliance infrastructure to guard against market manipulation and ensure compliance across its trading products, targeting support for equities, commodities, ETFs, CFDs and more.

eToro will also utilize NICE Actimize’s industry-leading case management capabilities providing robust evidence of a strong and repeatable compliance process. eToro currently has a collaborative community of more than 13 million registered users located in more than 100 countries.

The market surveillance application enables securities trading firms like eToro to quickly and cost-effectively detect sophisticated forms of market manipulation including pump and dump, layering, and insider trading. Its configurable rules engines reduce false positives and costs by enabling firms to tailor alert thresholds to their customers’ trading activity.

Rakuten chose NICE Actimize to implement an innovative anti-money laundering compliance platform to protect and support its investor clients and meet regulatory requirements.

The Japanese broker deployed NICE Actimize’s Autonomous Anti-Money Laundering portfolio, including the CDD-X Customer Due Diligence platform and the Suspicious Activity Monitoring and Watch List Filtering solutions.

The CDD-X Customer, Due Diligence platform, modernizes KYC/CDD programs with advanced analytics and provides accurate detection and customer risk scoring to reduce compliance risk.

It also offers embedded automation capabilities that streamline tasks related to ultimate beneficial ownership (UBO), adverse media, and data flow with customer relationship management (CRM) systems. CDD-X also leverages third-party risk factors to increase the accuracy of customer risk ratings during onboarding and ongoing monitoring to provide more intelligence to analysts.