Quick Heal rolls out India's first anti-fraud AI solution; shares fly 9%

Quick Heal share price: Cybersecurity solutions provider Quick Heal Technologies Limited (Quick Heal) share price zoomed up to 8.54 per cent in intraday deals to Rs 693.90 per share on Friday, October 4, 2024.

Quick Heal share price surged after the company announced that it has rolled out India's first fraud prevention solution, AntiFraud.AI. Quick Heal also highlighted that the solution is ‘Made in India.’

AntiFraud.AI offers a comprehensive suite of features designed to enhance user security and protect sensitive information. Key functionalities include a Risk Profile that evaluates users' exposure to fraud, Fraud Call Alerts for potentially fraudulent calls, and Scam Protection that employs advanced algorithms to block phishing links and fraudulent websites. 

Additionally, the solution provides real-time Banking Fraud Alerts using AI and includes features like Fraud Protect Buddy to help safeguard loved ones.

Vishal Salvi, chief executive officer at Quick Heal Technologies said, "With AntiFraud.AI, we are not merely unveiling a new solution but establishing a new category of fraud prevention. Leveraging over 30 years of industry experience and operating India's largest malware analysis facility, Seqrite Labs, we have a deep understanding of consumer fraud and the dynamic threat environment with real-world challenges.” 

Other key features include a Fraud App Detector that continuously scans for malicious applications, Secure Payments for safe online transactions, and Unauthorised Access Alerts for unauthorised device activation. Dark Web Monitoring actively checks for compromised sensitive data, while Call Forwarding Alerts notify users of unauthorised call redirection. 

Additional capabilities like Screen Share Alerts, Payee Name Announcer, and a Victim Support feature round out the offering, ensuring users have access to resources for recovery if they fall victim to fraud.

That said, AntiFraud.AI is designed to work alongside existing antivirus solutions, ensuring compatibility and enhanced protection. For Windows users of Quick Heal Total Security Version 25, fraud prevention capabilities are now integrated directly. 

The solution prioritises user privacy and is available across Android, iOS, and Windows platforms, catering to a broad range of users. While AntiFraud.AI focuses on preventing digital fraud, traditional antivirus software remains essential for detecting malware such as viruses and ransomware, encouraging users to maintain both solutions for comprehensive security.

“This solution empowers individuals to safeguard themselves and their loved one from falling victim to scams. AntiFraud.AI reiterates our dedication to securing India's future, allowing every citizen to participate in the digital economy with confidence. Our goal is to create a robust and secure digital ecosystem that will drive India's growth and prosperity for years to come," Salvi added.

The launch of AntiFraud.AI comes at a critical time, given the alarming rise in financial fraud in India. 

According to the Indian Cybercrime Coordination Centre, Indians lost approximately Rs 1,750 crore to fraudsters from January to April 2024, with over 740,000 complaints reported to the National Cybercrime Reporting Portal. 

At 12:50 PM, Quick Heal shares were trading 6.34 per cent higher at Rs 679.80 per share. In comparison, BSE Sensex was trading 0.33 per cent lower at 82,228.88 levels.