Equifax Acquires Fraud Prevention Company Kount For $640 Million (zdnet.com) 17
Equifax said Friday that it has signed a deal to acquire Kount, providers of digital identity and fraud prevention software, for $640 million. Equifax said it plans to use Kount's technology to bolster its footprint in digital identity and fraud prevention market. ZDNet reports: Kount's software relies on artificial intelligence to link trust and fraud data signals from billions of digital interactions, devices, and annual transactions. The signals are collected and combined with Kount's AI-driven predictive insights to help businesses prevent digital fraud and protect against account takeovers in real time. Applied to business transactions, Equifax posits that Kount's technology can help facilitate faster and more accurate identity trust decisions, including payments, account creations and login, while also reducing fraud, chargebacks, false positives, and manual reviews. The full suite of Kount products will be integrated into the Equifax Luminate fraud platform, which aims to help manage fraud decisions across the consumer account lifecycle.
How Much? (Score:4, Funny)
Re: (Score:1)
Eliminating threats? (Score:1)
But for who?
Money left? (Score:3)
Why do they have money left to make this kind of purchase?
Ridiculous (Score:1)
Equifax is still in business? (Score:3)
Unbelievable.
Re: (Score:1)
Why do you say that? All the crooked politicians that rubber stamp their licenses and permits were just reelected for the third, fourth, fifth time. This should be no surprise at all.
Re: (Score:2)
I would not actually have expected them to go out of business, but I would have expected them to change their name after they screwed up so massively.
Re: (Score:1)
I expected people to go to jail, along with company assets being distributed to the victims, and the whole credit system reformed, but, we have no justice in this life... nobody is demanding it, so Equifax stands as tall as ever with their supporters in congress
Settlement money (Score:1)
A shame (Score:3)
Re:A shame (Score:5, Informative)
I absolutely understand that sentiment.
When I spent a couple weeks really digging into the Equifax breach, I was surprised to learn they had actually done a pretty decent job on their security. Not perfect, but decent. A particular TLS cert that expired blocked their visibility on the server that the attackers used.
They made some errors, of course, AND most of the recommendations that came out of that were things that Equifax was actually already doing. More info here:
https://docs.google.com/docume... [google.com]
Re: (Score:2)
The REAL disaster was after the breach. Equifax did pretty much everything wrong post-breach.
Five weeks (Score:2)
Agreed, they did poorly on the external aspects of handling the breach. Page 1 of my report mentions it took *five weeks* for them to make public disclosure. A few days in order to understand what happened, to have the facts before you make a press release, I can understand. Five weeks is unacceptable.
Who is the customer, what is the product. (Score:2)
Remember who the customer for them is: The lenders. The banks and credit card companies. They are the customers. They are the ones funding the industry.
Remember what the product is: You. are. the. Product. To be sold. Your security is cost, not profit.
If they really cared, would they be casually empl
Equifax does not equal "fraud protection" (Score:1)
Just the opposite. Maybe that's why they bought the company, to keep from getting caught again.