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Crypto Exchange Defeats Account, ACH, and Card Fraud with DataVisor

One of the world’s best-established cryptocurrency exchanges implemented a multi-channel approach that allowed users to fund their digital wallets through various means—and opened themselves up to automated clearinghouse (ACH) fraud.

The ACH fraud had a serious impact on the exchange’s expansion:

  • Funds for a promotion plan were stolen by fraudsters.
  • Malicious actors funding accounts with stolen credit cards.
  • Risk of severe loss of consumer trust without a long-term solution.

The Results

60%

Reduction in Fraud Losses

60%

Reduction in Fraud Losses

60%

Reduction in Fraud Losses

The Results

  • 92%
    fake accounts detected before abuse.
  • 83%
    auto-action on detected fraud.
  • 42%
    improved accuracy over in-house system.
  • DataVisor implemented a solution that could ingest, process, and enrich data by the terabyte in a cloud-based system to provide meaningful insights and prevent fraud.
  • The exchange replaced their outdated architecture with a solution that continuously tracked and validated their performance.
  • Machine learning enabled the client to generalize patterns from historical attacks and expand the number of features that were used to discern good and bad events.
Success Story: Global Scale-Up Beats Account, ACH, and Card Fraud-resource

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About DataVisor

DataVisor is recognized as an industry leader and has been adopted by many Fortune 500 companies across the globe

DataVisor is the world’s leading fraud and risk management platform that enables organizations to respond to fast-evolving fraud attacks and mitigate risks as they happen in real time. Its comprehensive solution suite combines patented machine learning technology with native device intelligence and a powerful decision engine to provide protection for the entire customer lifecycle across industries and use cases.

Winning the Fight Against Fraud and AML Year After Year