Socure

It’s easy to say “fraud is always evolving,” but what does that actually mean? Fraud is like a virus. With every new barrier, it gets more creative. It adapts to survive. Which means that two institutions may face completely different fraud based on how advanced their controls are. Modern fraud prevention solutions not only block the fraud you face today, but have the capacity to adapt to the more advanced fraud you will inevitably face tomorrow – a direct result of your attempts to fight back. Socure’s Neal Gallucci spoke with the Center for Digital Government about why government agencies must learn to “think like a fraudster” in order to prepare for evolving fraud patterns. Key takeaways: • Fraudsters have the motivations of a business, like any other. They aim to maximize profits, with the added goal of going unnoticed. Understanding their motivations equips you to stay ahead of them. • Fraudsters will use any tools at their disposal. The reason fraud can evolve so rapidly is that AI and automation enables not only organized crime but also any individual to scale fraud easily and quickly. • Fraudsters create unusual patterns – if you’re looking. Even as fraud becomes more sophisticated, the anomalies are still there. Fraudsters create patterns that do not match normal behavior, and it becomes easier to see if you understand how fraud evolves. Learn how your agency can prepare for the fraud of the future in Government Technology's latest State of Digital Identity handbook: https://lnkd.in/gCjY5mFR

Congrats to Deepanker Saxena on being named to Okta's Identity 25 — one of just 25 innovators worldwide recognized for their work at the frontlines of digital identity, from fighting deepfakes to securing the next generation of agentic AI!

90 days ago I walked into Socure as CMO. Last week, we pulled off the most important gathering in identity and fraud. The Identity Summit. 200 fraud and identity executives in the middle of the desert. Here are 4 insights that actually surprised me 👇 1. Your hiring process is an attack surface 🎯 North Korean operatives have infiltrated 136+ US companies by getting hired. Background checks are no longer sufficient, and the FBI says we've only seen the tip of the iceberg. 2. One of the world's largest gig platforms is re-verifying workers mid-shift 👷 Deepfake attempts were up over 8,000% in 2025. This platform's answer: random live selfie checks throughout a shift, matched against the verified onboarding photo. If it doesn't match, access stops. The lesson: identity is continuous. 3. 40% of agentic AI projects will be cancelled by 2027 ☁️ Not because the tech failed. Because nobody built the governance layer first. A principal responsible AI builder and a former White House NSC official said it plainly: responsible AI starts at design, not deployment. KYA, Know Your Agent, is the new KYC. 4. A top 5 banks can now respond to a new fraud attack in hours 🚀 Eight years ago their fraud org was headcount-driven and slow. Today, it's analytically-led with data scientists living inside the fraud team, not shared resource pools. The through-line: identity is no longer a checkpoint. It's continuous infrastructure. And the organizations treating it as a one-time gate are already behind. We built Identity Summit for exactly these conversations, unscripted, candid, Chatham House rules. No press. No recordings. Just the people solving the hardest problems in the room together. Three months to build it from nothing. Worth every sleepless night. Want to be in the room next year? Send me a DM.

Socure’s first-ever Identity Summit is a wrap - and it exceeded every expectation! Over 150 customers joined us in Tucson, Arizona for three days of deep collaboration, candid conversations, and forward-thinking ideas to shape the future of identity. What made this event special wasn’t just the energy - it was the substance and connection. We kicked things off with a welcome reception and quickly got to work—diving into one of the most important questions facing our industry: how do we rebuild trust in a world where identity has become a civilization-scale problem? Across the summit, a few themes stood out: 1) Identity is no longer a moment - it’s continuous. Industry leaders shared how identity must evolve from a point-in-time check to a living, compounding relationship across the entire customer lifecycle. 2) AI is reshaping fraud at scale. “Fraud 4.0” isn’t theoretical - deepfakes, synthetic identities, and automated attacks are already here, forcing all of us to rethink how we defend trust without adding friction. 3) Identity is now infrastructure. The future isn’t fragmented tools - it’s unified systems that combine identity intelligence, AI-powered defense, and real-time decisioning into one adaptive layer. We heard directly from some of the most innovative organizations in the world -- Uber, Amazon, Capital One, Coinbase, public sector leaders, and many more - sharing real-world challenges and what’s actually working today. What stood out most: this wasn’t a conference—it was a working session. The people in that room aren’t just talking about the future of identity - they’re the leaders who are building it. A huge thank you to everyone who joined us for our first Identity Summit. We’re leaving Tucson energized, aligned, and optimistic about the Future of Identity. #Identity #FraudPrevention #DigitalIdentity #AI #CustomerFirst

A few years ago, Socure started the First-Party Fraud Consortium. Today, it's on track to become a nine-figure business on it's own, and I wanted to share this story of how it started. First-party fraud is a $100B+ per year problem for multiple verticals well beyond traditional financial institutions. Roughly four million known bad actors have figured out how to exploit consumer protection laws at scale. They use well-documented playbooks to dispute legitimate charges, claim ATMs did not dispense cash, or take loans that they have no intention of paying. The challenge is that no identity theft is involved. It is the actual account holder making the transaction with the intent to later claim it was fraudulent. That is why it is called "first-party" fraud. Here is how it typically works: A bad actor opens an account at a bank such as JP Morgan and disputes several ATM withdrawals. Eventually the bank identifies the pattern and shuts the account down. But the fraudster can immediately move to another bank or fintech and repeat the same scheme. Bad actors don't know silos. They know weak links and find sectors, verticals and companies that aren't protected. This is why a consortium model became necessary. Socure's First-Party Fraud Consortium is essentially a shared intelligence network. It is a single database that allows companies across verticals to track and share signal on repeat fraud actors. Today the network includes: - 30 of the largest financial institutions, fintechs and gaming operators - 500 million+ accounts - Coverage of about 70% of the U.S. adult population - More than 4 million known fraud actors identified We believe the industry is much larger than just FIs. We are on track for 1B accounts covered by the end of this years. 20B transactions and counting. And why are we doing this? While the revenue is great, what we’re really doing is bringing accountability back into the system. When there are no repercussions for bad actors, moral compasses get off course very fast. We are reminding everyone actions have consequences which in turns help limit negative actions. It’s like a neighborhood watch party for the financial system. Come join us.

I'll be honest, I wasn't sure we'd get here. Like a lot of companies, we slowed down in 2022 and 2023. Not because I doubted the team. Reaccelerating is genuinely hard. Doing it while attacking 20+ new markets, going global, and investing heavily in talent, product, and R&D? Even harder. And the environment isn't waiting for anyone. Every week, fraud gets more sophisticated. Every quarter, the bar gets higher. Deepfakes. Synthetic identities. Nation-state hiring schemes. Scams. Fraud-as-a-service. AI has collapsed the cost to attack to almost zero — faster than most companies can respond. That's the context for what this team just delivered. A record Q1 to kick off a record end to 2025: → $340M+ Total ARR → 62% YoY growth → 134% net dollar retention → 0.1% churn → 5B+ identities verified in the last year → Profitable But the numbers aren't the story. This is: → Stopped $1B+ in fraudulent disbursements across higher education → Deployed in 7 days to shut down a national ACA enrollment fraud scheme → Defended a leading crypto exchange against a $400M+ North Korean synthetic identity attack — across 38 countries → Helped a payments app turn "denied" Gen Z applicants into $177M of customer lifetime value through higher approval rates The infrastructure layer for identity has been missing from the enterprise stack. The fraud environment has made that gap impossible to ignore. We're building the standard that bridges it. To our partners — thank you for trusting us to innovate alongside you every day. To this team — every single one of you is part of building a generational, market-defining company. The next chapter for Socure is going to be the biggest one yet. [Full story in comments 👇]

Last night in NYC, we brought leaders in identity and fraud together for a Socure Intelligence Community dinner. Leaders from JPMorganChase, Bank of America, Goldman Sachs, TD, Revolut, Acorns, SoFi, Mastercard, and more, sharing what they’re actually seeing right now: what’s changing, what’s breaking, what’s showing up more often. Because the most valuable fraud insights don’t come just from reports, but from what leaders are seeing in the moment — patterns, shifts, things unfolding in real time. At Socure, we have a unique perspective, processing billions of transactions across 40+ industries. That visibility is powerful on its own. But when you layer in what others are seeing across their own systems, markets, and regions, you get a much clearer picture of where things are going. Fraud is more organized than ever. So we need to be just as connected. That’s the idea behind the Socure Intelligence Community: a space for leaders to share signals, learn from each other, and stay ahead together. Grateful to everyone who joined us. Stay tuned for more!

Hosted a dinner in New York City last night for some of the top fraud leaders in the world. The goal was cross-company collaboration, with executives sharing real-world experiences of what they’re seeing inside their own four walls. We hosted this dinner because customers kept asking, “How do we learn from what others are seeing and doing?” So we decided to just get them in the same room. We had presentations and breakout discussions, and created an environment where people felt comfortable talking about what was keeping them up at night. What stood out most was how often a fraud problem one executive was facing had already been solved somewhere else. Many attendees came from different industries with different attack vectors, but the underlying patterns were often the same. I say all the time that Socure is in a league of its own because we can see what’s happening across 3,000 global customers in 40+ industries. But last night was a reminder that there’s no substitute for getting the right people in a room and letting the conversations flow.