SpyCloud Launches Darknet Exposure Tool for Financial Institutions Amid Rising Malware and Breaches

New Consumer Risk Module Helps Financial Institutions Identify Darknet Threats Affecting Customers

AUSTIN – July 30, 2024 (Banking Dive) – SpyCloud, a leader in Cybercrime Analytics, has upgraded its popular Check Your Exposure tool with a new Consumer Risk Module. This free resource allows financial institutions and consumer-focused businesses to access a summary of their customers’ darknet exposures, providing critical insights to help prevent fraud, account takeovers, and other high-risk attacks tied to malware.

The release of this tool comes as SpyCloud’s latest research reveals millions of dark web exposures affecting customers of the top 50 U.S. banks in the last year. Key findings include:

• Over 5.9 million malware and breach exposures from 2,755 sources.
• More than 5.8 million stolen passwords linked to bank customers.
• Close to 81,000 consumers using malware-infected devices to access accounts, each with 10-12 exposed data points.
• Over 12.9 million stolen pieces of personally identifiable information (PII), enabling identity fraud and new account creation.
• A password reuse rate of 83% among bank customers, compared to 70% among bank employees.

“When consumers fall victim to malware infections, criminals harvest their login credentials, session cookies, and more, enabling them to impersonate the user across various accounts. SpyCloud’s data analysis provides financial institutions with unique insights into consumer exposures that would otherwise remain hidden. Our free exposure summary available online can reveal how global businesses use SpyCloud to prevent fraudulent transactions, account takeovers, and other costly cyberattacks,” said Damon Fleury, SpyCloud’s Chief Product Officer.

SpyCloud’s Check Your Exposure tool is used by thousands each month. The tool analyses over 680 billion recaptured darknet data assets, allowing users to input their business email and receive reports on high-risk exposures linked to their domain from the past year.

SpyCloud’s clients include two of the top five U.S. banks, the largest U.S. cryptocurrency exchange, and various retail and investment banks, card networks, and payment processors. This year, SpyCloud introduced several new solutions for financial institutions:

• Compromised Credit Card API: Enables automatic monitoring of exposed card numbers for credit, gift, and loyalty cards.
• Consumer ATO Prevention Zero-Knowledge API: Allows fraud and security teams to check user credentials for exposure while meeting compliance regulations.

Businesses can access the Consumer Risk Module via the free Check Your Exposure tool, taking the first step in protecting their organisations from malware-related threats.

About SpyCloud

SpyCloud leverages darknet data to shield businesses from cyberattacks. Its Cybercrime Analytics transform breach, malware, and phishing data into actionable insights that help prevent ransomware, account takeovers, and identity theft. SpyCloud’s solutions are trusted by more than half of the Fortune 10 and hundreds of global enterprises. Based in Austin, TX, SpyCloud’s team of over 200 experts is dedicated to making the internet safer through automated solutions that combat cybercrime. You can visit their website at spycloud.com.