Deduce, an identity fraud prevention provider, has raised $9 million in a funding round led by Freestyle Capital, with participation from Foundry and True Ventures. Deduce, founded in 2019, focuses on helping organizations prevent AI-generated identity fraud and detect synthetic identities that have already created fake accounts. Its platform uses multi-contextual intelligence to analyze data from various sources and can recognize patterns created by AI-generated fraud, including SuperSynthetic identities, which are used by cybercriminals for financial fraud. The new funding will be used to launch Deduce’s GenAI Identity fraud solution and expand into industries like ecommerce and financial services.
Read more: https://www.securityweek.com/deduce-raises-9-million-to-fight-ai-generated-identity-fraud/
