If only in the United States from 2019 to 2020 it registered a 70% jump in computer fraud with loss of money – according to the FBI’s Internet Crime Report – equal to over 40 billion dollars, and in this scenario Italy turned out to be one of the most affected countries. In fact, our country recorded over 21,800 cases of computer fraud detected in 2020, for a damage estimated at nearly 125 million euros. And in addition to fraud related to the use of credit cards, there are those relating to personal loans or for the purchase of goods and services and real estate loans. The main types with which fraudulent attacks have been perpetrated are phishing, smishing, vishing, personal data breaches and identity theft.
The increase in cybercrime incidents has had a significant impact on the global fraud detection and prevention market, which grew to $ 26 billion in 2021, 3 billion more than in 2020, with estimates of $ 141 billion by 2028. . Giulio Coluccia, CEO & Co-founder of ToothPic, the innovative Italian startup focused on cybersecurity for authentication, explains that it is “growth linked above all to investments in anti-fraud solutions by the main actors who have been most affected, including the banking, financial and insurance sectors, for which there is a clear need to identify and track users in their online activities “.
Precisely in this context, ToothPic recalls having developed a solution “capable of offering an additional level of security to financial services against potential fraudulent events by planning a technology capable of recognizing every smartphone through its camera sensor, thanks to the possibility of extracting unique identifiers from the hardware of the latter, with a series of key advantages. “The identifier, in fact, can survive the recovery of the software, since it is not tied to the hardware, it cannot be counterfeit, as it is related to a physical property of the sensors, and can be randomized, such that a certain application cannot deduce the identifier of another, even if both derive from the same camera, add the experts of ToothPic which in April obtained the grant from the European Patent Office of two of the four patents that protect its innovative multifactor authentication technology.