DAT Announces Industry’s First AI-powered Identity-Verification Solution to Combat Fraud
21 September 2023 - 11:04PM
Business Wire
DAT Freight & Analytics today introduced the first
purpose-built, AI-powered identity fraud detection and prevention
platform through a partnership with Verosint, to help prevent the
unauthorized use of customer login credentials and combat the
growing threat of identity theft in trucking and logistics.
Through this new technology, DAT can now leverage AI and machine
learning to validate user identities and scrutinize suspicious
accounts. Users of the DAT network can now:
- Verify the identity of the entities they are doing business
with.
- Ensure the legitimacy of load postings on the DAT load
board.
- Monitor, detect and block fraud in real time.
- Leverage industry-leading DAT rules, signals and intelligence
to identify signatures and block fraud.
DAT’s AI-powered identity-verification solution is powered by
Verosint and works in the background to maintain a secure and
seamless login experience for legitimate users. It harnesses DAT’s
expertise in data, analytics, and generative AI to detect potential
fraudulent activity and stop unauthorized access to DAT One, the
industry’s largest freight marketplace and analytics platform.
Stephen Shoaff, CEO & Co-founder of Verosint says: “Identity
based cyber crime is challenging all businesses and account fraud
is a key enabler of these crimes. We are thrilled DAT chose our
platform to monitor all identity transactions for real-time
detection and prevention of fraud. Our combined expertise will
deliver the industry’s highest protection against fraudulent
identity events, setting what we believe to be a new standard.”
The partnership is a significant step in DAT’s multifaceted
fraud-prevention program announced earlier this year. The program
includes:
- Predictive fraud detection, identity verification and
multi-factor authentication to detect and stop suspicious
logins.
- An expanded Network Integrity Unit (NIU) dedicated to
investigating reports of fraud and maintaining DAT as the most
trusted freight marketplace.
- Anti-fraud education and training for customers.
- Collaboration with customers and industry partners, law
enforcement agencies and regulators in the fight against
fraud.
Like so many other industries, the truckload freight market has
been plagued by bad actors looking to exploit carriers, brokers and
shippers with various identity theft scams. DAT reports that 56% of
the fraud cases it investigates are identity-related, driven by
account takeovers, credential stuffing, new-account fraud and
synthetic (BOT) accounts.
Without sophisticated identity verification to detect and
preempt potential fraud at scale, operators of online freight
networks have to investigate reports of suspicious activity
individually, a laborious manual process. This AI and Machine
Language-based innovation enables DAT to intervene swiftly and
selectively, enhancing its ability to prevent fraud activity before
it happens.
Mac Pinkerton, President of North American Surface
Transportation at C.H. Robinson said: “Automated identity
verification is a game-changer. The ability to automatically detect
and stop cybercriminals in real-time is crucial to a more secure
freight marketplace and a testament to DAT’s commitment to fighting
fraud.”
“Ensuring a safe, secure and scalable network for our customers
is DAT’s top priority,” said Satish Maripuri, CEO & President
at DAT. “Innovating closely with our customers on our
fraud-prevention program is already yielding substantial results.
Verosint’s identity-centric platform combined with DAT’s data and
AI capabilities takes identity verification to a new level - a
first in the industry.”
For more information about DAT’s fight against fraud, visit
www.dat.com/fraud-protection and www.dat.com/news-releases.
About DAT Freight & Analytics
DAT Freight & Analytics operates the largest truckload
freight marketplace in North America. Transportation brokers, motor
carriers, news organizations and industry analysts rely on DAT for
market trends and data insights based on 500 million freight
matches and a database of $137 billion in annual market
transactions.
Founded in 1978, DAT is a business unit of Roper Technologies
(Nasdaq: ROP), a constituent of the S&P 500 and Fortune 1000
indices..
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230921479510/en/
Annabel Reeves, Corporate Communications 503-501-0143;
annabel.reeves@dat.com
Roper Technologies (NYSE:ROP)
Historical Stock Chart
From Apr 2024 to May 2024
Roper Technologies (NYSE:ROP)
Historical Stock Chart
From May 2023 to May 2024