Fraud mitigation with Hedera

Name: Hedera
Price range: $

Hedera helps mitigate fraud, reduce costs, and build trust for all stakeholders of online applications and digital transactions.

Get started Contact us

Augmenting fraud mitigation with Hedera

Applications today are controlled by centralized authorities, with backend infrastructure susceptible to infiltration and data tampering by both internal and external actors. As application parties are added, such as users, auditors, administrators, and more, it’s near impossible to ensure that everyone can be both trusted and have access to the same information in real-time.

Hedera enables high-throughput, verifiable logging of business transactions, as well as decentralized identifiers that adhere to the W3C Decentralized Identifier (DID) standards, for any new or existing application. This ensures all participants are trusted and associated systems have a real-time view of transactions used for predictive analysis and detection of fraudulent activities.

Reduce costs

Digital fraud accounts for over $600 billion, or 0.8% of global GDP, through losses, reputational damage, and more. Reduce costs by ensuring real-time data congruence and standards between parties, while enhancing the ability to catch fraud before it happens.

Enhance brand

Delayed disclosures and lack of real-time detection of malicious activities result in reputational damage. Enhance customer trust and loyalty by bolstering existing fraud detection systems through real-time and publicly auditable, timestamped logs.

Protect customers

The most impactful fraud mitigation often requires transparency and aggregation of data across disparate organizations. Empower fraud detection systems with the support of data standards and real-time verifiability, while still protecting customer privacy and PII.

Here’s your key, stakeholders

Fraudulent activities can be carried out by both internal and external parties, whether sophisticated bots or individual bad actors. Ensuring trust in the identity and credentials of network participants is critical when mitigating fraud for business applications and sensitive transactions.

The decentralized identifier and verifiable credentials standards under development at the W3C is utilized by the Hedera Decentralized Identity Java SDK. It offers business applications with the tools to manage credentials through their lifecycle in a secure, standards-based, and privacy respecting manner.

"Hedera has proven it has the scale, speed, and reliability to handle all of the live advert tracking data and programmatic event data needed to combat fraud."

Ian Mullins
Founder and CEO

Why Hedera

Hedera augments fraud mitigation solutions through a combination of game-changing and unique functionalities unattainable by alternative public distributed ledger technologies.

Verifiable timestamps

Effective fraud mitigation requires knowledge of when specific actions took place and their order. Bring trust to your toolkit with mathematically provable consensus timestamps for every transaction.

Tamper-proof

Online fraud includes the manipulation of data by both internal or external participants. Hedera Consensus Service creates a tamper-proof log to bolster data legitimacy.

Real-time analysis

Catch fraud before it happens. Underlying hashgraph consensus enables thousands of transactions per second on Hedera, with finality in seconds. Enable fast predictive analysis and detection of fraud within your application.

Auditable

Application stakeholders can verify the authenticity of any transaction on Hedera. Meet compliance requirements and make auditing a breeze by logging events on Hedera.

Enterprise-grade security

Hashgraph is asynchronous Byzantine fault tolerant (ABFT), and offers the highest grade of security for the Hedera public distributed ledger.

Identity standards

Hedera and the open DID specification offers businesses the tools to manage credentials through their lifecycle in a secure, standards-based, and privacy respecting manner.

Millions of transactions, everyday

Hedera-powered applications process over 1 million transactions per day on the Hedera mainnet.

AdsDax user story

AdsDax reduces the costs associated with fraud and intermediaries and creates trust between advertisers and publishers using Hedera.

Read

The Coupon Bureau user story

The Coupon Bureau can bring its standardization and added efficiencies to the marketplace with transparency and trust to combat fraudulent behavior.