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C6 Intelligence Announces Purchase of Pneuron Distributed Analytics Platform for creation of next generation Fraud and Identity Theft Solutions.
In the United States alone, it is expected 15 million individuals will have their identities used fraudulently each year with financial losses totaling upwards of $50 billion.
In the United Kingdom, the number has reached 4 million, with losses per individual reaching up to £9,000. Fraud is traditionally identified when it has happened or is in the process of happening.
Using Pneuron, C6 will be able to identify, notify and interdict fraudulent activities much earlier in the lifecycle than any current industry process. The company will now be able to focus its resources on the various events that potentially trigger criminal activity. Examples include, when an identity is stolen, when that identity moves or is for sale in the “dark web.”