Company Directory - Socure
Company Details - Socure
Socure
WebsiteSocure is an identity-verification company that provides innovative solutions to prevent fraud by leveraging advanced machine learning and artificial intelligence.
CCI Score
CCI Score: Socure
0.32
0.01%
Latest Event
Socure Aids in Combating Deepfake Fraud in Hiring
Socure, an identity-verification firm, is noted for its role in helping companies verify candidate identities and combat deepfake fraud and fake job applicants, as highlighted in a CNBC report on the surge of fraudulent job seekers using generative AI.
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OBJECTOR
Socure is currently rated as an Objector.
Latest Events
- APR082025
Socure, an identity-verification firm, is noted for its role in helping companies verify candidate identities and combat deepfake fraud and fake job applicants, as highlighted in a CNBC report on the surge of fraudulent job seekers using generative AI.
- AUG052024
Socure met with lawmakers in New York and Virginia to explain its identity verification practices and compliance with state data protection laws, addressing concerns around data handling, bias testing, and the use of arbitration clauses in its terms of service.
+20
Public and Political Behavior
April 8
Socure proactively engaged with state lawmakers and addressed questions regarding identity verification compliance, bias testing, and discrimination concerns. This public engagement demonstrates accountability and willingness to clarify its operational practices.
Socure explains identity verification compliance to 2 state lawmakers
-10
Business Practices and Ethical Responsibility
April 8
While Socure asserts compliance with state laws, its terms of service, which include mandatory arbitration and data disclosures in less accessible formats, raise concerns about adequately protecting consumer rights and ensuring transparency, particularly for less tech‐savvy users.
Socure explains identity verification compliance to 2 state lawmakers
+15
Technology and Services Impact
April 8
Socure emphasized that its identity verification technology is routinely tested for bias and involves human oversight, indicating a commitment to ethical technology use. This mitigates risks of discriminatory practices associated with automated systems.
Socure explains identity verification compliance to 2 state lawmakers
- JUL102024
State Sen. Jeremy Cooney, in a letter dated July 10, 2024, questioned the vetting of Socure by New York state agencies. The letter criticizes the firm's opaque data collection methods—including purchasing personal data from public and private sources—and its reliance on AI for identity verification without sufficient human oversight or bias testing. These practices have raised concerns about potential discrimination and inequitable access to government services.
-30
Business Practices and Ethical Responsibility
April 8
Socure is under scrutiny for acquiring sensitive personal data through opaque channels without clear consent or transparency. This practice raises ethical concerns regarding the handling of personal data, potentially harming marginalized communities by enabling biased or discriminatory outcomes.
New York lawmaker questions state’s use of identity-verification vendor
-40
Technology and Services Impact
April 8
Socure’s heavy reliance on artificial intelligence and machine learning for identity verification, combined with insufficient human oversight, raises concerns about entrenched biases. The technology’s potential to produce discriminatory outcomes—especially without rigorous testing for bias—poses risks to marginalized communities.
New York lawmaker questions state’s use of identity-verification vendor
- DEC312023
According to data from OpenSecrets, Socure Inc spent $160,000 on lobbying activities during 2023, reflecting its engagement in influencing political processes.
-50
Political Contributions and Lobbying Efforts
April 8
Socure's allocation of $160,000 towards lobbying efforts raises concerns about corporate attempts to shape policy in ways that can undermine democratic oversight and support authoritarian interests. In the current political landscape, such activities are viewed negatively from an anti-fascist perspective, as they potentially facilitate undue corporate influence in public policy.
- DEC312023
In 2023, Socure Inc. spent $160,000 on lobbying activities, as reported by OpenSecrets. This expenditure underscores the company’s effort to influence public policy, raising concerns about corporate overreach in the democratic process.
-60
Political Contributions and Lobbying Efforts
April 8
The reported $160,000 lobbying expenditure by Socure in 2023 is indicative of a substantial investment in political influence. This kind of corporate political engagement can contribute to an environment where money shapes policy, potentially undermining democratic governance and reinforcing oligarchic power structures.
- OCT232023
On October 23, 2023, Socure launched its Sigma First-Party Fraud solution alongside the First-Party Fraud Consortium (FPFC) to improve detection and prevention of first-party fraud. The initiative, which involves partnerships with digital banks and FinTech firms, leverages alternative data signals and cross-industry insights to reduce fraud losses and enhance identity verification accuracy.
+40
Technology and Services Impact
April 8
Socure's rollout of its innovative fraud prevention technology, coupled with the creation of a consortium involving digital banks and fintech companies, demonstrates a commitment to improving identity verification and protecting consumers. By enhancing fraud detection methods, the initiative supports a safer digital economy and promotes ethical business practices that guard against exploitation. This positive technology impact counters potential abuse and indirectly supports broader democratic participation and consumer rights.
Socure Launches Tool and Financial Consortium to Fight First-Party Fraud
- OCT012023
Socure's Head of Public Sector, Jordan Burris, is partnering with government leaders to promote digital identity verification and fraud detection, emphasizing digital identity inclusion and fairness—a priority recognized by the White House.
+70
Executive Political Engagement
April 8
Socure's executive engagement in public sector initiatives through Jordan Burris demonstrates strong commitment to advancing digital inclusion and fairness in identity verification. This proactive collaboration with government leaders is aligned with progressive, anti-authoritarian values by promoting transparency and ensuring marginalized communities benefit from secure identity solutions.
+40
Technology and Services Impact
April 8
Socure’s innovative use of machine learning and AI to enhance identity verification and fraud detection supports the development of fair and inclusive digital identity solutions. This technology-driven approach is progressive, as it enhances digital transparency while safeguarding against misuse.
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