Building a Fraud-Free World with SEON’s Free Plan

Building a Fraud-Free World with SEON’s Free Plan

I was a victim of fraud – let’s get that out in the open. After I met my co-founder Bence at university, we started to build a crypto exchange. Not far into our journey, we were hit by fraudsters. I’m sure you probably know a friend, family member, or colleague who’s also been hit by fraud or cybercrime, and you have seen the impact it can have. 

That’s one of the main reasons SEON was founded – to fight people committing cybercrime. We were so frustrated that someone could tamper with all our hard work that we set a new mission for ourselves: to create a fraud-free world. This mission covers quite a lot, but the cornerstone of the SEON vision is to protect the vulnerable while also helping online businesses secure their returns and minimize opportunities for crime.

Fraud is a global problem, so let me share a couple of statistics we refer to often at SEON. 

  • In 2021 alone, online transactions rose by 65%. In this same period, online fraud increased by 233%. Although the 2021 statistics were undoubtedly boosted by the pandemic, more online services are offered each year, so it continues to grow. 
  • The loss to e-commerce transaction fraud grew from $27 billion in 2020 to a predicted $52 billion by 2025, and this figure is expected to rise further. 

It is dangerous to underestimate your enemy, and fraudsters are incredibly clever. They are swift to jump on new opportunities, there are a lot of fraudsters, they often work together, and they can move a lot quicker than the people challenged with catching them. 

As an example, we are rapidly approaching Black Friday. The increased traffic generated by this now-global retail event is a bountiful autumn harvest for cybercriminals. They can strike with schemes that will often go unnoticed as waves of transactions wash over companies and their risk teams. 

I think I know what you are thinking. We have an impossible mission – so why are we bothering? I suppose the answer is because, we can. We have the people and the tech to fight back against fraud.

With this in mind, I’m delighted to announce our Free plan. This is the new free version of our platform, which democratizes fighting fraud. It puts our fraud-fighting capabilities right at everyone’s fingertips, which is why it is designed to allow small businesses to have fraud protection in place while they are still building. 

The SEON platform makes it tough for fraudsters to get through the gates by intelligently combining real-time social signals, phone, email, and IP lookup details with device intelligence and machine learning. This effectively creates a security wall that stops fraudsters, uncovers fraud patterns, and discovers revenue opportunities. 

What our Free plan gives you:

  • All new users access the full power of our fraud detection solution on a 30-day trial. At the end of their free trial, users will automatically revert to our “forever free” plan and may continue to use our service or choose a different plan that better fits their needs. 
  • A “forever free” plan helps us better serve and protect online businesses of all sizes, as we remain relentless in our pursuit to create a fraud-free world.
  • The accessible pricing structure ranges from startup-friendly to enterprise-ready. It makes fraud prevention and detection easier for every online business.
  • The Free plan supports up to 500 manual checks each month at 2 QPS (queries per second), and 10 custom rules to set up in the SEON Admin. This allows small businesses to have customized full-scale fraud protection in place even while they are building their infrastructure.
  • Free users also receive email support from our customer success team, so everyone can draw on their extensive experience in fraud management. 

We don’t want great ideas to be destroyed before they even have a chance to flourish. This has been the driving force behind a free SEON plan since Bence & I became the victims of fraud ourselves many years ago. We want to make sure no one’s business gets wounded by cybercrime before having a chance to spread its wings.

Thank you for reading. Experience SEON for free here and keep up the fight against fraud! 

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