Avichai Ben and Roy Zur, Charm Security Founders (company pic)
Israeli startup Charm Security, an AI-driven customer security platform, has officially launched from stealth, securing $8 million in seed funding led by Team8. Using real-time AI-powered agents, Charm proactively prevents scams and protects organizations and their customers from social engineering and human-centric fraud.
Charm was co-founded by Roy Zur, a cyber intelligence expert and former senior officer at Israel’s elite Cyber Intelligence Unit 8200, alongside Avichai Ben, former Data Science Lead at Transmit Security and Microsoft, who has developed AI-driven fraud detection for major enterprises.
Built in collaboration with Team8, a leading venture creation firm specializing in cybersecurity, AI, fintech, and digital health, Charm Security is poised to redefine fraud prevention and customer security in the digital age.
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“Scammers are evolving at an unprecedented pace, using AI to deceive customers before traditional fraud systems can intervene,” said Roy Zur, Co-founder & CEO of Charm Security. “We are on a mission to break the ‘scam spell’ by leveraging AI-powered real-time interventions and psychological insights to protect users when they need it most.”
The landscape of fraud is shifting, moving beyond traditional system exploits to increasingly sophisticated social engineering techniques that target individuals as the primary vulnerability. A recent Team8 report, “Fraud Exposed,” highlights the significant impact of this evolution, revealing that AI-powered scams have caused a staggering $1.03 trillion in global losses.
Faced with growing regulatory pressure and liability for authorized push payment (APP) fraud, financial institutions urgently need real-time, customer-focused solutions for scam prevention. Charm Security addresses this critical need by proactively assessing individual vulnerability, analyzing customer risk profiles, and delivering customized mitigation strategies informed by psychological insights, data analysis, and AI. This approach strengthens defenses preemptively, and when scams are underway, Charm can intervene in real time to disrupt them. The escalating threat of financial scams, fueled by evolving tactics and the rise of generative AI, is capturing the attention of industry leaders.
