Nasdaq Verafin partners with Q6 Cyber for dark web fraud intelligence

Nasdaq Verafin has announced a partnership with Q6 Cyber to integrate dark web fraud intelligence into its fraud and anti-money laundering platform. The collaboration aims to give financial institutions earlier visibility into emerging fraud and scam threats.

Q6 Cyber monitors dark web marketplaces, deep web forums and encrypted messaging platforms, collecting data on compromised checks, payment cards and online banking credentials. In the past 18 months it has gathered more than 1.2 million compromised checks, 57 million unique compromised credentials and 158 million compromised payment cards.

The integrated data will be delivered as high-risk alerts within Nasdaq Verafin’s platform, allowing banks and credit unions to investigate and act in a single workflow. A proof-of-concept found that the average time from detection of a stolen check listing to the first fraudulent check being returned was 10 days, giving institutions a window to prevent fraud.