XOR Data Exchange is offering fraud protection via its newly launched Compromised Identity Exchange platform. The data security and analytics company says it aims to provide breach victims and their customers security from identity theft as well as protection from account takeover and tax refund fraud.
The role of the Compromised Identity Exchange is twofold. First, it allows organizations suffering a data breach to take proactive steps to protect their customers whose data was compormised instead of “requiring opt-in by participating consumers.” Second, it provides organizations an indication of high-risk customers and applications to quell fraud and identity theft in the future. XOR combines and analyzes data from breached records with ongoing fraud patterns.
Credit bureau giant TransUnion called the platform "an innovative approach to identifying compromised data.”
Organizations that have suffered data breaches can use the service free of charge.
For more, read about XOR here.