Group-IB, a leading creator of cybersecurity technologies to investigate, prevent, and fight digital crime, announced at Black Hat MEA the launch of the Cyber Fraud Intelligence Platform CFIP, a groundbreaking technology designed to protect Saudi financial institutions, e-commerce entities, and digital platforms from emerging cyber threats.
As Saudi Arabia continues its digital transformation under Vision 2030, addressing the rising threat of cyber fraud has become a priority for both businesses and consumers. Building on Group-IB's global leadership in anti-fraud technologies, CFIP is a first-of-its-kind, privacy-focused, real-time fraud prevention platform that enables Saudi organizations across banking, telecommunications, payments, online retail, and gaming to collectively collaborate in detecting and blocking fraudulent activities without exposing sensitive customer information. CFIP is also a core element of Group-IB's Cyber Fraud Fusion approach, which unifies cyber threat intelligence and fraud prevention.
Powered by Group-IB's patented Distributed Tokenization technology, CFIP securely shares anonymized "risk signals" between organizations to identify and stop fraud in real time. For Saudi businesses, this means proactively combating issues like coordinated mule-account networks, phishing scams, and synthetic identities, which have been rising as payment fraud techniques in the region.
