Canadian telecoms and financial institutions have partnered on a new anti-fraud initiative.
It’s dubbed the Cross-Sector Anti-Fraud Exchange (CSAFE) and it comes in partnership between Bell, Rogers and Telus’ digital security joint venture EnStream and BMO, CIBC, Desjardins, National Bank, Scotiabank and RBC.
Together, the companies aim to improve data protection for Canadians by sharing confirmed fraud intelligence between participating institutions using EnStream. The platform will then aggregate, standardize, and enrich the data so that all parties can both disrupt fraudsters and identify instances of repeat fraud. The group adds that CSAFE operates “within a defined governance framework” and each participant independently uses the intelligence provided by the platform.
CSAFE is now available starting with the involvement with the banks and telecoms. Going forward, CSAFE looks to expand by inviting additional members from businesses like finance and tech to join over time. The goal is to have a wide-reaching network that covers all sectors that are targeted by fraudsters.
More information on CSAFE can be found on EnStream’s website.
Image credit: Shutterstock
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