VentureLabs member company, INETCO Systems Limited has received a new patent for its BullzAI transaction firewall—a major advancement in real-time payment fraud prevention that blocks intelligent bots and zero-day attacks in milliseconds. This tool will help prevent fraud using AI-powered techniques to launch attacks that risk bypassing traditional fraud detection tools. 

“The growing adoption of instant payments and digital transformation is driving our clients to constantly battle new and evolving fraud threats that put businesses and customers at risk,” said Ugan Naidoo, CTO and Co-Founder of INETCO. “This patent represents a paradigm shift in how payment fraud is detected and stopped. The INETCO BullzAI transaction firewall enables financial institutions to proactively block rapid attacks with a new level of precision—a game-changing advancement that reduces false positives and allows legitimate transactions to complete without a hitch.”

BullzAI is designed to stop fraud before damage is done. It can block a wide range of high-speed threats in real time like Bank Identification Number (BIN) attacks, synthetic identity fraud, ATM cash out attacks, rogue terminals and distributed denial of service (DDoS) attacks, giving banks and payment service providers stronger protection across their entire network.

BIN attacks involve fraudsters testing thousands of card numbers using small, low-risk purchases to find the ones that work. These valid cards are then used for larger fraud operations or sold in bulk.

Bot attacks today use tools that mimic real users, making it tough for traditional systems to detect them. These systems lack visibility and behavioral insight to block individual users, devices, or terminals, and will often respond by shutting down entire IP ranges or ports, which disrupts the customer experience and leads to lost revenue from declined legitimate transactions.

INETCO’s BullzAI transaction firewall brings sharper accuracy to fighting payment fraud by detecting and blocking attacks in real-time. Using self-training, machine learning models, BullzAI stops suspicious transactions before they happen, while letting legitimate ones go through, helping maintain a smooth customer experience without the need for large-scale shutdowns or service interruptions.

Read the full article to learn more about INETCO’s patent: https://www.inetco.com/blog/inetco-awarded-patent-for-ai-driven-transaction-firewall-to-instantly-block-ai-driven-fraud-attacks/

Image sourced from INETCO