Sumsub wins the Hot Company in Fraud Prevention award: here is why this is important

Security doesn’t work without proactive innovation; this means being ready not only for today’s threats, but solving tomorrow’s challenges. This is how we approach security at Sumsub.

Leading cybersecurity recognition

Security has been one of our top priorities, particularly throughout the fraud-stricken pandemic. On May 17th, 2021, these efforts were recognized by Cyber Defense Magazine’s CISSP, FMDHS, and CEH-certified security professionals, who awarded Sumsub the Hot Company in Fraud Prevention title.

This award brings us confidence and motivation, as our system has been evaluated for its ability to face emerging cyber threats, cost-efficiency for businesses, as well as for its innovativeness throughout the years. Now we can further prove the reliability, strength, and relevance of our defenses in the fight against fraud, which has grown exponentially over the past few years (and has accounted for $56 billion in losses in 2020 globally).

Why it’s important for you

As Sumsub grows, we continuously renew our security measures and data safety defenses — especially when it comes to verification, data storage, and regulatory guidelines. Our solution has evolved tremendously throughout the years with thousands of upgrades, in-house technologies like Prooface, as well as alignment with data protection regulations such as PCI DSS, GDPR, PDPA, and CCPA.

But our work doesn’t stop here. We are always pushing for higher reliability standards to keep our customer’s trust.