ClearScore launches dark web fraud protection platform

By Aisling Finn on Thursday 30 April 2020

Digital Banking

Of the 305,000 customers already using ClearScore Protect, the average person will see seven leaked passwords.

ClearScore launches dark web fraud protection platform
Image source: Justin Basini/ClearScore

 

Free credit score and credit marketplace provider ClearScore has today officially launched a new dark web fraud protection programme.

ClearScore Protect has been designed to scan the dark web for customer’s sensitive information including passwords and financial data.

The new platform will be free to use and has been introduced following an increase in consumer concern about online fraud following the outbreak of coronavirus.

According to ClearScore, 55 per cent of UK consumers are more worried about online fraud now than they were before the coronavirus pandemic.

Of those UK consumers affected by fraud 58 per cent experience a loss of financial data with the vast majority of those affected losing between £101 and £500, 8 per cent of those surveyed lost over £1,001 to fraud.

ClearScore Protect alerts users every three months of any stolen information and will produce a list of all breached passwords with instructions on how to change them.

Of the 305,000 users who have already activated ClearScore Protect, the average person sees seven passwords from online accounts leaked on the dark web.

Justin Basini, CEO and co-founder of ClearScore, said: “With an increase in online fraud, we wanted to ensure that consumers were protected and so we set about creating ClearScore Protect 18 months ago. 

“Having fallen victim to identity theft myself, I understand how it can impact a person’s financial and mental well-being and right now everything is exacerbated by the anxiety caused by the COVID-19 pandemic,” he added.

ClearScore is also launching a paid version of the service, ClearScore Protect Realtime costs £2.99 per month and can monitor three separate email addresses on a daily basis.

Subscribers will be able to see any compromised information, not just passwords, and receive bespoke advice and support if they fall victim to online fraud.

Sign up for our newsletters


Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.