AU10TIX, a prominent technology leader specializing in identity verification and management, has announced significant achievements in combating business fraud since the launch of its award-winning Serial Fraud Monitor (formerly INSTINCT) in 2021. Through its comprehensive fraud prevention solutions, AU10TIX has successfully safeguarded organizations worldwide against fraudulent activities, preventing over $18 billion in financial losses.

1. Impact Across Multiple Sectors:
   - AU10TIX's multi-layered fraud prevention solutions have delivered substantial savings across various industries.
   - Notable sectors benefiting from AU10TIX's solutions include payments ($13 billion), cryptocurrency and trading ($2.7 billion), banking (over $1 billion), and the shared economy ($776 million).

2. Q1 2024 Results:
   - In Q1 2024 alone, AU10TIX prevented over $1.3 billion in fraudulent activities, emphasizing the ongoing commitment to combatting fraud across industries.

3. Shift Towards AI-Generated Fraud:
   - AU10TIX observed a significant increase in synthetic AI-generated fraud, with 70% of fraud loss prevented attributed to this type of fraud in 2023, compared to only a third in 2021.
   - This shift underscores the evolving tactics of fraudsters towards more sophisticated methods, highlighting AU10TIX's advanced capabilities in detecting and mitigating both traditional and AI-generated fraud.

4. Regional and Document Type Trends:
   - Significant shifts in fraud patterns were observed across regions and document types.
   - Cryptocurrency fraud decreased from 36% in 2021 to 11% in 2023, with the APAC region's share increasing from 15% to 25%.
   - Fake driving licenses accounted for ~60% of attacks in 2021 but decreased to ~30% in 2023, while fake passports saw an increase from 12% to 27%.

5. Commitment to Security:
   - Dan Yerushalmi, CEO of AU10TIX, emphasized the importance of stronger safeguards for customer identity and personal information in light of escalating cybercrime threats.
   - AU10TIX's IDV suite and Serial Fraud Monitor offer advanced capabilities in validating ID documents, detecting coordinated mass ID fraud attacks, and ensuring secure access to digital transactions.

AU10TIX's achievements in protecting global companies against business fraud underscore its commitment to providing robust and innovative fraud prevention solutions. With the continued evolution of fraud tactics, AU10TIX remains dedicated to enhancing security measures and assisting organizations in fortifying their defenses against emerging threats.