WireSecure, a fintech company that aims to prevent impersonator fraud in the financial services industry, has announced that it has joined Cowbell Cyber’s referral network, Cowbell Rx. As a result of the partnership, companies that fully adopt WireSecure’s multi-factor authentication product can receive discounts on their cyber insurance premiums.
wireSecure was founded in 2019 to address the threat of wire fraud within the financial services sector. According to the FBI, impersonator fraud and social engineering have become the largest form of cyber attack, accounting for as much as $2 billion in losses in 2021 alone.
WireSecure ensures the authentic identity of every party involved in a financial transaction by cross-checking facial recognition, government-issued IDs, and mobile phone numbers. Once a person’s identity has been verified, the verification is preserved for all future transactions.
“We are incredibly excited to work with Cowbell Cyber and play a role in helping as many companies as possible reduce the risk of impersonator fraud and social engineering,” said Brian Twibell, co-founder and CEO of WireSecure. “We’ve experienced countless examples of companies who have endured, or come close to enduring, significant losses that result from an email account being compromised. Manual best practices can only go so far, and the best form of prevention requires an automatic, multi-factor approach.”
