Real-Time Anti-Fraud Defense Unveiled by Scamnetic Through KnowScam 2.0 Upgrade
Scamnetic, one of the startups in Mastercard's new security-oriented engagement program, has unveiled its latest innovation - KnowScam 2.0. This advanced digital marketing solution promises a significant leap forward in proactive scam protection.
KnowScam 2.0 consists of four major components: Scan & Score, IDeveryone, Scam Intervention, and Scam Education.
Scan & Score, the platform's automatic risk assessment feature, scans email and text messages for potential scams. It utilizes customized machine learning and automation to minimize human error and reliance on third-party LLMs.
IDeverifyone, on the other hand, provides defense against various types of scams by identifying the counterparty's identity. This feature is crucial in combating identity theft and impersonation scams.
Scam Intervention helps restore assets and support scam victims in re-establishing their digital security. It offers a much-needed solution for those who have fallen victim to scams.
Scam Education provides users with the latest tips and resources on how to protect themselves from scams. It is an essential tool for empowering consumers to take control of their digital security.
KnowScam 2.0 also includes deepfake detection and ID verification functionality. This feature is particularly important in today's digital age, where deepfakes are becoming increasingly common.
The program's partnership with organizations such as the Global Anti-Scam Alliance (GASA) facilitates knowledge sharing and the development of best practices against scams.
Scamnetic's technology can be integrated directly into enterprise platforms, empowering service providers to help their customers avoid scams. This integration is a significant step towards making proactive scam protection accessible to a wider audience.
KnowScam 2.0 leverages its own customized machine learning and proprietary technology to detect 9 out of 10 scams. This high detection rate is a testament to the platform's effectiveness in combating scams.
Scamnetic has introduced a new Auto Scan feature for Microsoft Outlook and Android RCS. This feature allows users to scan their emails and messages automatically, ensuring that they are always protected.
Besides OneID, Scamnetic has been associated with other fintech startups in Mastercard’s StartPath Security Solutions program, including Spec, VanishID, and Shield-IoT. This association provides Scamnetic with valuable resources and networking opportunities.
Scamnetic made its platform debut last year at our platform Fall 2024 in New York. Since then, it has continued to innovate and improve its fraud protection solutions.
With its broader platform coverage, automated detection, and instant identity verification, KnowScam 2.0 offers features not offered together by any other consumer-facing anti-scam solution. Scamnetic's Chief Operating Officer, John Evans, stated that KnowScam 2.0 offers a major leap forward in proactive scam protection.
In conclusion, KnowScam 2.0 is a significant step towards combating scams in the digital age. Its advanced features, integration capabilities, and high detection rate make it a valuable tool for both consumers and service providers.
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