Threat actors have become highly sophisticated in avoiding cybersecurity when they attack financial institutions to commit fraud. They exploit vast amounts of information, social media platforms, and channels on the surface, deep and dark web to create synthetic identities, share weaknesses of onboarding processes, and exploit customer vulnerabilities. They also use the dark web to purchase attack tools and sell stolen data. For financial institutions and providers of financial services, this entails that they must identify and prevent direct threats, block fraud attempts, and protect customers from social engineering schemes. But conducting comprehensive checks and looking for vulnerabilities is a costly and time-consuming process.
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