Cloudflare goes 'marketing' helping businesses swiftly nail online fraud

KUALA LUMPUR, March 16 (Bernama) -- Cloudflare Inc announced it is entering the fraud detection market to help businesses quickly identify and stop online fraud including fraudulent transactions, fake account signups and account takeover attacks before it impacts their brand or their bottom line.

Powered by sophisticated machine learning models and global threat intelligence, the company is developing Cloudflare Fraud Detection to quickly stop account and payment fraud while also blocking the bots and humans behind it, automatically, and at global scale.

“Customers have long trusted us to help protect them online, and now we are taking that even further by tackling online fraud. With our massive global network, we can see more and secure more.

“We believe we can use our network to stop online fraud faster than anyone else, so business leaders will no longer be kept up at night worrying that online fraud will hurt their brand, their customers’ experience or their revenue,” said its co-founder and chief executive officer, Matthew Prince in a statement.

Cloudflare’s global network spans more than 285 cities in over 100 countries to power millions of websites, Application Programming Interfaces and mobile applications, including major online retailers, global financial institutions and payment providers.

This will allow Cloudflare to develop real-time advanced detection models that provide greater insights into online fraud threats, and run those models in near-real time to stop threats without any impact on performance.

Cloudflare Fraud Detection will first synthesise different threat activity it sees across the globe and across many different Cloudflare products.

For example, Cloudflare Fraud Detection will combine insights from Cloudflare's cloud email security, like phishing attacks, with information about emerging attacks from the Cloudforce One threat intelligence team to determine if a new user signup may be fake.

With Cloudflare Fraud Detection, businesses will have a consolidated fraud management solution with several threat-specific detection capabilities to stop bots at global scale; safeguard brand reputation and consumer trust; protect consumers who fell victim to a past breach; and prevent the use of stolen credit cards.

-- BERNAMA