Best Antifraud Solution—Startup
As the fraud prevention ecosystem has grown in sophistication to match the evolving threats, the CNP Awards have grown with it. The Best Antifraud Solution—Startup category was introduced during the pandemic year of 2020 and this year was awarded by our panel of judges to a Bay Area company that launched its flagship product in 2019.
PerimeterX, and its Code Defender product, focus on thwarting Magecart attacks and protect personal and payment information on e-commerce websites. The company also offers products that address account takeover, bot detection and carding—serious problems for companies engaged in digital commerce.
Additionally, PerimeterX conducted pioneering work on “Shadow Code,” conducting its second annual survey of security professionals on the extent and impact of third-party scripts and open-source libraries used in web applications across organizations.
As website logic moves to the front end, attackers are taking advantage of the increased attack surface on the client side. Industry estimates state that about 70 percent of website front-end code consists of third-party scripts, creating an easy target for attackers. And according to Osterman Research, only 8% of organizations have full insight into the Shadow Code that runs on their application.