This post was originally published on Finextra (Security)
Invisible threats lurk beneath every financial interaction. Milan-based Cleafy has officially launched its UK entity, marking a significant milestone in its global mission to combat digital banking fraud.
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Renowned for its innovative AI-driven technology and discovery of critical banking threats, Cleafy has secured billions of transactions for over 100 million accounts at leading financial institutions worldwide, with an average annual transaction value of $700 billion.
Cleafy’s advanced technology and elite Threat Intelligence (TI) team have uncovered and neutralised major threats, including the notorious TeaBot, BingoMod, and Medusa malware variants. The stealthy TeaBot banking trojan infiltrated the Google Play Store, amassing over 100,000 downloads before Cleafy’s intervention led to its swift removal. Recently discovered, BingoMod aimed to bypass bank countermeasures for user identity verification and authentication, as well as the behavioural detection techniques banks use to identify suspicious money transfers. Medusa, monitored by Cleafy for nearly a year, emerged as a new variant targeting premium Android devices across the UK, USA, Canada, France, Italy, Spain, and Turkey.
Since its founding in 2014 by Polytechnic of Milan alumni Matteo Bogana (CEO), Nicolò Pastore
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