Identity verification and management solution provider, AU10TIX, has launched a free Risk Assessment Model that enables businesses to conduct an initial assessment of their exposure to operational, security and identity fraud risk. Drawing insights from billions of transactions processed globally and years of expertise in risk assessment and mitigation, the model provides personalised insights and actionable recommendations to safeguard against critical fraud vulnerabilities in identity verification processes.
By taking five minutes to answer ten brief questions specific to their business, sector, security measures, and ID verification processes, organisations receive a customised Risk Assessment Report highlighting vulnerabilities across different key areas. The report provides high-level recommendations for bolstering overall security and operational resilience, enabling businesses to proactively manage their risk landscape rather than react to incidents.
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Identity fraud risk assessment is crucial for companies that handle substantial financial transactions and are exposed to compliance liabilities, such as payments, banking, crypto/trading, etc. It helps identify potential vulnerabilities in the systems and processes that could enable unauthorised access or misuse of the data. It also ensures compliance with industry regulations, protecting organisations against potential legal consequences and financial damages.
“Our new Risk Assessment Model is designed to provide initial indicators of potential risks, offering companies a clear starting point for understanding how we can help them accommodate and mitigate these challenges effectively,” said Dan Yerushalmi, CEO of AU10TIX.
“The tool is integral in demonstrating our proactive approach to fraud prevention and the strategic support we offer our customers.”
AU10TIX says that the announcement underscores its dedication to lead the market in compliance and security standards. The new model enhances risk management strategies and bolsters overall security and operational resilience.
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