FEATURE: THE FUTURE OF TRUST
Mitigating Risk and Creating Value
By 2025, 40% of Fortune 1000 companies will require partners and vendors to meet trust scores as a condition of doing business.
Trust enables decisions to be made between two or more entities that reflect a level of confidence both in terms of quantifiable risk and subjective reputation for an exchange of mutual benefit to occur.
In this era of multiple interpretations of truth, the big question for enterprises and their customers, partners, and regulators becomes not what is necessarily a consensus interpretation of truth, which may not be attainable, but what is trustworthy.
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ARTIFICIAL INTELLIGENCE (AI)
The power of Artificial Intelligence on your team
Artificial Inteligence (AI) is a simulation of human intelligence. AI Bots are highly trained, specialized tools used to automate a sequence of processes.
AI Bots, trained to perform specific tasks, can be valuable members of your team, they work 24/7, their process is standardized and they can be easily scaled out to meet demand.
BlockIt’s AI Bots are trained to consume vast amounts of data to predict the likelihood of fraud, providing threat intelligence to everyone on the BlockIt Platform.
Secure Your Business
A Business Email Compromise (BEC) is a specialist type of phishing attack that is becoming increasingly prevalent. BEC attacks are designed to impersonate senior executives and trick employees, customers or vendors into wiring payment for goods or services to alternate bank accounts. According to research from the FBI, BEC attacks accounted for half of the cyber-crime losses which took place in 2019.
In 2019, 81% of organizations were targets of attempted/actual payment fraud
Organizations that reported fraud, indicated 74% originated from BEC scams
Organizations that experienced attempted or actual payment fraud in 2019 did so as a result of BEC scams