Australian enterprise cybersecurity firm Kasada Pty Ltd. today announced KasadaIQ, a new suite of attack prediction services that helps enterprises predict and prevent account takeover and online fraud before it happens.

The first service in the suite, KasadaIQ for Fraud, supplies actionable intelligence for businesses who need insight into how bots target their digital channels and customer data. Combined with Kasada’s visibility into nontraditional data sources and adversary communities, KasadaIQ for Fraud provides the capability to detect attacks before they happen and confirm threats that would otherwise go undetected.

KasadaIQ for Fraud has been designed to help tackle the issue of bot fraud, which costs businesses time, money and reputation. A report from Kasada earlier this year found that 96% of information technology professionals reported losing revenue in the last year due to bot attacks and 79% said bots are becoming more sophisticated and complex for security tools to detect.

The service allows organizations to predict and prevent fraud before it happens, including credential stuffing, which can lead to account takeover and other fraud that targets their online business to damage security, reputation and bottom line.

Core functions of KasadaIQ for Fraud include unconventional sourcing. Kasada monitors activity within nontraditional sources, including resale marketplaces, fraud groups, proxy providers, account generation groups and hosting providers. The service provides early warnings, with Kasada’s analysts first identifying and vetting current and emerging threats within Kasada’s data system, then sending customers advanced alerts.

In an interesting twist, Kasada secretly purchases bots and stolen credential sets from criminal marketplaces in circulation to extensively analyze how they work and to help customers remedy security gaps and online fraud.

Kasada offers dedicated analyst hours, with customers receiving a set amount of analyst hours for Kasada to investigate what’s most relevant to their needs, such as intel on fraud groups or reverse-engineering attacks. Kasada employees also scope custom requirements and provide expert guidance on achieving the desired intelligence answers and outcomes.

“Combined with our current bot detection platform, KasadaIQ for Fraud gives companies the competitive edge to get ahead of and defend against attackers,” Sam Crowther, founder and chief executive of Kasada, said ahead of the announcement. “Ultimately, it will prevent businesses from being in the headlines for the wrong reasons.”

Kasada Security is a venture capital-backed startup, having last raised $23 million in funding in December 2021. Investors in the company include StepStone Group Inc.,  Ten Eleven Ventures LLC, Main Sequence Ventures Pty. Ltd., Reinventure Group Pty. Ltd., Our Innovation Fund LP and Turnbull & Partners Ltd.

Image: Kasada