Case Study: Crypto Currency Exchange reduces fraud with LexisNexis Risk Solutions

LexisNexis® Risk Solutions Helps a Digital Currency Exchange Reduce Fraud by Preventing Fraudulent New Account Creations and Account Compromises

A cryptocurrency exchange with a strong global footprint was struggling to detect fraudulent new account creations and account compromises. These fraudulent activities, which included the use of stolen identity credentials, presented significant risks for money laundering. To tackle this, the exchange partnered with LexisNexis Risk Solutions and leveraged intelligence from its Digital Identity Network.

LexisNexis Risk Solutions implemented its technology to analyze digital identities and detect anomalies in real time. The solution accurately identified fraudulent activity, which led to a reduction in fraud losses at both account registration and from account takeovers. This also resulted in reduced customer friction, allowing for faster transactions for trusted users on the platform.