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Treasury is the first digital gold seller in Indonesia to receive official licensing from the Indonesian government. With the tagline “Everyone deserves a bright future”, the company aims to democratize the ability to own gold as an investment asset. Treasury provides a convenient platform for Indonesians to start investing in gold for as little as IDR 5,000.
Key Takeaways
- Enabled Risk Assessments of All Users and Devices
- Significantly Reduced Promo Abuse on Platform
- 100% Accuracy in Detecting All Malicious Tools
A Gold Mine for Users, Not Fraudsters
Gold has a well-earned reputation for being one of the most desirable investment asset classes in the world. Its rock-solid price stability has made the precious metal a safe haven for investors during periods of economic and market volatility. As testament to this fact, Treasury saw the number of users on its platform increase by 230% in 2021 during the COVID-19 pandemic.
The company aims to empower consumers throughout Indonesia to achieve their savings and financial goals through gold ownership. However, the Treasury team was aware that such fortune could attract fraudsters. Knowing that most fraud across tech platforms can be attributed to fake accounts, Treasury turned to SHIELD for a holistic fraud prevention solution that would stop fraud at its root.
Investing Resources Into Genuine Users
Limited-time competitions and promotions were regularly launched to help Indonesians get a headstart on their gold ownership journeys with free digital gold vouchers. At the same time, the Treasury team also developed the Learn & Earn program to allow users to better understand the basics of investing. Each user was able to earn one digital gold voucher through the completion of a quiz under this program. However, fraudsters could create fake accounts en masse to drain the resources allocated towards helping genuine customers.
To put a stop to this, Treasury leveraged SHIELD’s Device Intelligence solution to accurately distinguish fake accounts from genuine users. The SHIELD ID, the global standard for device identification, empowered Treasury to confidently stop fake account registrations from fraudulent devices.
At the same time, the team utilized the SHIELD Risk Indicators to expose the devices running apps and tools commonly associated with fraudulent activity, such as app cloners, GPS spoofers, and emulators. These tools are used to create fake digital identities and evade traditional fraud defenses. The SHIELD Sentinel also made sure Treasury was able to determine the exact moment that fraudulent behavior manifested, enabling them to swiftly issue warnings to such users or ban repeat offenders.
Helping Indonesians Go for the Gold
As the leader in digital gold investment in Indonesia, Treasury was committed to safeguarding its users from ever evolving fraud attacks. SHIELD’s technology will empower Treasury to stay ahead of new threats and achieve its mission of enabling Indonesians to enjoy the financial benefits that gold investment offers.
Dedy Giharto, Head of Technology, Treasury, commented “Treasury is committed to supporting Indonesians in achieving their personal finance goals through the democratization of gold ownership. Our partnership with SHIELD helps us ensure our users are safe from fraud and can enjoy peace of mind on their financial journeys.”
