Many crimes are typically committed for financial gain. The same applies to cybercrime which is being conducted more frequently for financial gain.

Financial fraud incidences have increased in tandem with the enormous expansion in the usage of Mobile banking, Internet banking, Mobile Wallets, e-commerce, and online share trading. They include those involving credit cards, debit cards, online and mobile banking, insurance, computer manipulation, accounting schemes, etc.

Israel is renowned for being a leader in Fintech innovation and cyber security. Also regarded as a “Start-up Nation” over the past three decades, she has been at the forefront of developing solutions that have improved the security of countries and even organizations.

In this blog post, we are delighted to share some of the top Israeli Fraud Detection Solutions:

  1. SONAR by ThetaRay: SONAR is a cloud-native SaaS solution for fintech to easily launch AI-driven transaction monitoring and screening that efficiently detects and prevents money-laundering (AML) and other financial crimes, allowing new business opportunities through trusted and reliable payments. Using an advanced form of AI called “artificial intelligence intuition” and a family of proprietary, patented algorithms, SONAR analyses data dynamically without relying on predefined scenarios or models.


  1. RISKIFIED by RiskifiedA fraud solution that helps merchants approve orders they would have declined. It protects customers from malicious account takeover attacks, combat payment failures at checkout, and helps merchants block abuse while upholding consumer-friendly policies. The e-commerce risk management platform helps merchants eliminate risk and uncertainty in their businesses by leveraging machine learning which aggregates data from many of the world’s largest online merchants and creates network effects that drive higher sales and generate cost savings for their merchants.


  1. BioCatch: delivers advanced behavioural insights providing global organizations with actionable intelligence to create a secure and frictionless digital customer journey. They create a world of trust and ease across the entire digital identity lifecycle from Account Opening Protection, Account Takeover protection, Mule Account Detection, Social Engineering Scam Detection, etc.


  1. AGROSCOPE byDetelix Software Technologies Limited: Argoscope checks 24/7 all company payments, including suppliers, customers, insureds, salaries, and any other organizational process in order to detect errors, fraud, and embezzlement in time, also the work procedures compliance. Argoscope integrates into every possible database, thus examining every end-to-end business process. The system is based on the knowledge and experience of the best experts, including finance managers, risks, internal auditors, information security, and cyber of the large organizations in Israel, using machine learning, business intelligence, re-learning, and developing new algorithms on an ongoing basis. Argoscope keeps track of an organization’s assets anywhere, anytime, anytime.


  1. ARGOS EDGEby Cyberint: a SaaS-based Digital Risk Protection (DRP) platform that enables security teams to identify and address any existing cyber risk exposures coming from beyond the traditional security perimeters. This DRP solution is fully integrated with attack surface monitoring capabilities, with the ability to pivot to real-time threat intelligence. It provides a holistic and proactive approach to thwarting threats beyond the perimeter. The result is complete and superior life cycle protection from a broad range of external threats, based on a three-pronged approach of discovery, monitoring, and remediation.


  1. SIX INTELLIGENCE SETS byPaygilant: These dynamic layers analyze and correlate relevant information throughout the user’s journey, determining whether a transaction is safe or risky. Throughout this process, Paygilant observes various attributes related to the user, device, application, and transaction. This is used to weave an identity representation of the user, providing a risk score that indicates the risk level of each transaction.



The financial crime landscape keeps evolving every day as cybercriminals are using a combination of hacking and social engineering techniques to bypass current financial and corporate institutions’ security. Increased vigilance and awareness of such threats to the financial sector are encouraged to keep up with the cyber security war.

For more information on the solutions mentioned above, kindly contact Brenda Butron – Trade Officer with the Israel Economic and Trade Mission to Lima: