Trustfull has announced the launch of Domain Intelligence, a package of services that aims to prevent fraud and enable identity verification all powered by artificial intelligence.
Based in Milan, Trustfull was created to support businesses by leveraging OSINT-based fraud prevention solutions. Created in 2020, Trustfull raised a €5 million seed round in 2022. Today, the company has more than 100 clients using its services.
Trustfull states that each year, fraud and secondary losses harm business activity. Lending fraud increased by 14% from 2023 t0 2024. The company points to Lloyds Bank, which estimates that e-commerce fraud drove a 211% increase in card payment disputes in 2024.
Trustfull states that over 800,000 people in Europe and the US were duped into revealing card details and other personal data with a network of fake online designer shops operated from China.
Trustfull’s KYC (or KYB) services are directly attacking identity fraud, and firms’ need tools to automate detection.
Marko Maras, CEO of Trustfull, says that traditional KYB services cannot keep pace with the level of sophistication the crooks utilize today.
“Originally designed for thousands of merchants instead of millions, these processes leave financial institutions exposed. We believe the solution lies in open-source intelligence and deep online due diligence, which help verify merchants and small businesses instantly, confidently and at scale.”
