Press Releases

Everspin Detects 13,657 Suspected Cases of Identity Theft Crimes

2024.03.04

AI security company Everspin announced on the 4th that it detected 13,657 suspected cases of identity theft during the two-month period of November and December last year. The identity theft prevention service, developed based on Everspin's FakeFinder—the market share leader in malicious app phishing prevention—is considered the first solution designed to prevent identity theft crimes. For this, Everspin and NICE Information Service collaborated. The method prevents identity theft by combining FakeFinder's app big data with the credit information held by NICE Information Service. The app big data utilized in the identity theft prevention service is derived through malicious app phishing prevention, the core function of FakeFinder. As FakeFinder holds the number one market share in this field with over 43 million monthly users in Korea alone, it has accumulated uniquely dominant data in both quantity and quality. This was a mandatory element that made the identity theft prevention service possible. The FakeFinder-based identity theft prevention service is currently contracted or implemented by more than 10 financial institutions, including KB Kookmin Bank, NH Nonghyup Bank, Samsung Card, Shinhan Investment & Securities, SBI Savings Bank, Shinhan Life, and Finda. Everspin stated, "The FakeFinder identity theft prevention service is the first solution for preventing identity theft crimes, and industry interest remains high. Large-scale implementations are scheduled for numerous banks and card companies in the first half of this year. The total number of financial institutions using the service is expected to reach 17 by the end of the first half, and demand is expected to grow continuously in the future."