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ZapFraud awarded patent for advanced fraud and BEC detection and blocking
Palo Alto, CA, March 17 – ZapFraud announces that the United States Patent and Trademark Office has granted a patent for ZapFraud’s innovative technology that identifies scam emails on the basis of meaning. The patent highlights ZapFraud’s distinctive filtering and automation that identify, block and report fraud and scammers based on insights into the criminals’ methods.
While scammers constantly change their formulations, they very rarely depart from one of a relatively small number of storylines. For example, consider an email that has a greeting from an apparent stranger; an expression of surprise; mention of large sums of money; an expression of urgency; and a request for a response. Whereas there are millions and millions of ways of writing a scam email, there may be just ten or twenty ways to express each one of these notions." This makes it possible to detect scam emails by their storylines,” Dr. Markus Jakobsson, CTO and founder of ZapFraud, explains.
Detecting scam by their storylines is only one of the many lines of defense that ZapFraud has developed. With five more patents pending, ZapFraud is aggressively positioning to address the problem of online scams with a unique approach that identifies scammers based on understanding of their methods. “We understand Business Email Compromise (BEC) and how to detect it,” says Dr. Jakobsson. “BEC is a problem that has grown explosively for the last few years. We have tracked it since 2008 and have seen it shoot up like few other scams. This is not only a testimony to how lucrative it is, but also exposes weakness in traditional defense methods.”
ZapFraud is in early testing of the patented Fraud Firewall™ and BEC risk assessment and protection. Organizations can be running a ZapFraud Fraud Firewall and blocking fraud on their network in about an hour. To participate in trials, businesses should contact ZapFraud at [email protected]
ZapFraud is a leading provider of innovative security solutions for business and enterprise. The patent pending ZapFraud Fraud Firewall™ automates against Business Email Compromise (BEC) and targeted fraud from many channels. ZapFraud’s patent-pending scam protection service helps provide peace of mind for all who face the increasing and ever-changing threat of email, social media and online criminals who attempt to steal intellectual property, identity, online credentials and, corporate assets and funds.