Nasdaq Verafin Adds Q6 Cyber’s Dark Web Intelligence to Fraud Platform

Nasdaq Verafin and Q6 Cyber have joined forces to assist financial institutions in detecting and combating emerging fraud and cyber threats, as announced in a press release on August 27. The collaboration will incorporate Q6 Cyber's dark web fraud intelligence into Nasdaq Verafin's consortium data insights, making these resources accessible to financial institutions within the fraud and anti-money laundering platform provided by Nasdaq Verafin.

Q6 Cyber's dark web intelligence is capable of identifying compromised checks, payment cards, online banking credentials, and other fraud threats. The partnership will provide financial institutions with a more comprehensive understanding of emerging threats, enabling them to make more informed decisions regarding fraud prevention.

Colin Parsons, head of fraud product strategy at Nasdaq Verafin, stated that the integration allows clients to identify fraud threats prior to the execution of any fraudulent transaction. This proactive approach is essential in today's rapidly evolving threat landscape. Q6 Cyber CEO Eli Dominitz revealed that the company has been amassing its network of proprietary dark web sources for the past ten years.

Dominitz emphasized that Q6 Cyber's intelligence is based on confirmed compromises or threats, as opposed to mere exposure scores. With direct access to this intelligence, financial institutions can now receive alerts days or weeks before a fraud event occurs. In September, Q6 Cyber announced a strategic growth investment from Charlesbank Capital Partners to enhance its product offerings, expand its commercial and geographic presence, and pursue strategic acquisitions to strengthen its capabilities.