A New Era of Anti-fraud. HiTRUST at AI Taiwan Future Commerce Expo

A New Era of anti-fraud! HiTRUST showcasing industry-leading technologies and solutions for fraud prevention at the AI TAIWAN Future Commerce Exhibition.

Recently, Future Commerce and AI Taiwan have made their major return in hosting an exhibition themed “AI DRIVING NEW BUSINESS.” The exciting event gathered top-tier domestic and international companies who brought along their most innovative technologies to showcase comprehensive and practical applications of AI-powered solutions for business.

The exhibition extensively covered everything from hardware to software, technology to market, and services to applications, driving the force of industry innovation and transformation in the digital world at AI TAIWAN.

Star of the Trust Domain: HiTRUST's Highlight Showcase at the Future AI Pavilion

This year, HiTRUST demonstrated its leading-edge technology at the exclusive “Future AI Pavilion”. With its recent leap in product research and development, HiTRUST showcased its most advanced anti-fraud technologies and solutions as a tool to protect various stakeholders from online payment fraud. At this event, the Pavilion put together 30 AI solution vendors, providing a fundamental platform for the exchange and cooperation of businesses and technology leaders. As the “Star of the Trust Domain.” HiTRUST unveil its three flagship products: Veri-id Device Identification and AI Anti-Fraud, VeriFIDO Passwordless Authentication, and HiTRUSTpay Secure and Dynamic Online Payment Solutions.

Facing The Growing Fraud Threats: HiTRUST's Solution

In recent years, fraud techniques have become increasingly sophisticated, ranging from fake websites and phishing emails to social engineering attacks that impersonate identities. Both consumers and businesses face unprecedented challenges. To aid businesses in combating ever-evolving threats, Veri-id employs its patented device identification technology and leverages AI for efficient computation, accurately identifying device risks and preemptively preventing fraud.

For instance, when a user attempts to log into their e-commerce account, Veri-id instantly analyzes the device information, checking for factors such as whether it is an unfamiliar device, if it is connected to a VPN, Proxy, or Tor network to obscure identity, whether the device is a physical machine or a cloud-based virtual machine, and if it is being operated by a human or robot. These strong and well-developed capabilities enable Veri-id to swiftly block login requests from risky devices, effectively preventing account takeovers.

VeriFIDO: A Technology Leap in Passwordless Authentication

VeriFIDO was developed based on the advanced FIDO2 technology to create a password-free secure environment, completely eliminating the risk of password leaks. If we look at common fraud scenarios, scammers often lure users into entering their account information on fake websites, then use these stolen passwords on legitimate, profitable sites such as e-commerce platforms, bank accounts, and brokerage accounts for their own gains. To make this possible, VeriFIDO replaces traditional passwords with public key cryptography protocols, ensuring that when interacting without passwords, there is no chance of leakage, effectively preventing phishing sites from stealing passwords and mitigating the risk of man-in-the-middle attacks.

With the addition to the Passkey feature made popular by big players such as Apple, Google and Microsoft, VeriFIDO further enhances the user experience. Passkey enables FIDO keys to be synchronized across multiple devices, allowing users to use a registered device as an authenticator for other devices. This means that a single registration can be used on multiple devices, providing both businesses and consumers with higher security and convenience, protecting against various online threats and ensuring the safety of data and identity.

Veri-id: Comprehensive Protection Against Online Risks and Cyber Attacks

Veri-id adopts HiTRUST's proprietary technology to collect numerous device information attributes, including IP addresses, browser types, hardware specifications, and operating systems. This information is used to generate a unique "device fingerprint" that identifies devices in the same way fingerprint does for human, allowing recognition of unfamiliar devices and deeper understanding from the accumulative behavior patterns on the same device. Additionally, Veri-id is at the forefront of the AI wave, leveraging vast amounts of global data to train its risk models to increase detection accuracy day-by-day.

In the past, risk personnel under businesses had to manually design and establish decisive rules, such as setting a threshold for more than 20 login requests from the same IP within 300 seconds. This process was labor-intensive, time-consuming, and dependent on the experience and judgment of risk personnel, which can grow poor due to fatigue and human error. Moreover, in the online environment, each new user scenario required the addition of rules, which over time could lead to increased management costs and reduced system performance.

Now, Veri-id's AI model considers different risk scenarios, replacing the need to create and manage countless rules with a model-driven approach. To make this happen, the model analyzes big data to determine which user behaviors are abnormal, reducing subjective judgment errors and significantly improving efficiency.

Veri-id has not only received an invention patent but also achieved notable achievements in 2023, including the "AI Leading Project Grant" from the Digital Development Department and the "Digital Sandbox Enterprise Co-Creation Group Excellence Award" from the Financial Supervisory Commission. Up to this moment, Veri-id has been successfully implemented by large e-commerce platforms and multinational banks in the Asia-Pacific region, applying to scenarios such as online logins and online credit card transactions for elevated security.

Technology Experience: HiTRUST's Real-World Application Showcase

As per usual, at the AI TAIWAN Future Commerce Exhibition, HiTRUST not only demonstrated its exceptional technical prowess but also provided visitors with an interactive, firsthand experience of how its products effectively prevent fraud through a series of real-world application scenarios. Whether it's preventing account takeovers, credit card fraud, or protecting customer personal data, HiTRUST's solutions showcased their leading technical capabilities and versatile applications, fundamentally changing the community’s understanding of security.

With all the changes happening in the digital world, a new era of fraud prevention has arrived. HiTRUST, in collaboration with AI TAIWAN, is aggresively moving towards a safer and smarter future, allowing businesses and consumers to confidently enjoy the convenience and innovation enabled by new technologies.

Read the full Taiwanese article from Inside.