The startup’s offering is built around three core tools: Scan&Score, Scam Intervention, and IDeveryone
Scamnetic Inc., a startup specializing in scam detection, has launched its new artificial intelligence-driven platform designed to identify and prevent online fraud in real time. The platform, now available to software providers via an application programming interface (API), offers robust protection across various communication channels, including email, text messages, chat platforms, and phone calls.
Scamnetic’s platform leverages AI to address the increasing sophistication of cybercriminals who use advanced technology to perpetrate scams. The startup’s offering is built around three core tools: Scan&Score, which evaluates the risk of any communication by scanning emails, messages, and even QR codes; IDeveryone, a feature that validates the identity of counterparties; and Scam Intervention, a 24/7 support service for scam victims. With a reported $10 billion lost to scams in 2023 and businesses facing $485.6 billion in global fraud losses, according to the NASDAQ 2024 Global Financial Crime Report, Scamnetic’s solution is timely. The platform assigns a risk score to each interaction, providing users with detailed insights to help them make informed decisions.
Scamnetic, which plans to launch a direct-to-consumer version later this year, has received strong endorsements from industry experts. Matt O’Neill, a former U.S. Secret Service cybercrime investigator, noted that the platform could have significantly reduced the number of fraud cases he encountered. By addressing both consumer and business vulnerabilities, Scamnetic aims to set a new standard in fraud detection and prevention.
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