Wirex has taken a significant stride in bolstering its online security measures by incorporating ZeroFox’s advanced monitoring tools.
These tools are specifically designed to counteract the ever-growing threats emerging from dark web activities and money mule accounts.
The collaborative effort harnesses both human and artificial intelligence to proactively scan the dark web for potential hazards, including leaked data and counterfeit credentials.
Pavel Matveev, CEO and Co-Founder of Wirex, emphasized the importance of this strategic move, stating, “It is a significant step forward in our continuous commitment to improving online security.
The cutting-edge technology offered by ZeroFox has played a crucial role in strengthening our defenses, especially in combating the rise of money mule accounts.”
This innovative solution empowers Wirex with early detection capabilities, enabling them to swiftly identify and assess risks associated with the dark web.
By employing monitoring tools and real-time alerts, the company can gauge the severity of these risks and respond promptly.
Wirex’s integration of dark web monitoring tools is part of its broader fraud prevention strategy.
The primary goal is to safeguard user accounts against unauthorized access and potential fraudulent activities, thereby enhancing the overall security of users’ funds.
In addition to this security enhancement, Wirex has collaborated closely with law enforcement agencies, sharing valuable intelligence in the ongoing battle against financial and cybercrimes.
The company also prioritizes customer education, offering informative content to empower users with knowledge about security practices and responsible financial behavior.
Founded in 2014 by Pavel Matveev and Dmitry Lazarichev, Wirex boasts a user base of over 6 million customers across 130 countries.
The company’s mission revolves around promoting the adoption of a cashless society by facilitating seamless transactions in both cryptocurrencies and traditional currencies on a global scale.
Notably, Wirex reinstated its services in the United Kingdom in 2022 after engaging in constructive dialogue with the Financial Conduct Authority (FCA).
This development underscores Wirex’s unwavering commitment to regulatory compliance and continuous innovation.
Following the resumption of services, Wirex announced plans to integrate Faster Payments into its UK offerings, providing users with greater flexibility and control over fund transfers within the UK.
The company also introduced several notable updates, including increased daily top-up and spending limits for UK users, exclusive over-the-counter exchange rates, and zero fees for foreign exchange and transfers.
New Wirex users in the UK can also conveniently order the company’s debit card to facilitate transactions across multiple locations.