Incode acquires Identiq to expand privacy-preserving fraud detection

June 25, 2026 4 min read

The investment aims to strengthen privacy-preserving identity infrastructure, enabling organizations to detect fraud collaboratively without sharing users’ personal data.

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Collaboration between organizations to detect fraud without sharing personal data is gaining importance as AI-driven threats continue to grow.

Incode Technologies has completed the acquisition of Identiq as part of a US$100 million investment to strengthen its privacy-preserving identity infrastructure.

The rise of AI-driven fraud has led Incode Technologies to strengthen its digital identity strategy through the acquisition of Identiq, a company specializing in privacy-enhancing cryptographic solutions for peer-to-peer fraud detection.

The transaction is part of a US$100 million investment aimed at strengthening the company’s privacy-preserving identity infrastructure.

As part of this investment, Incode will allocate resources to strengthen on-device processing capabilities, continue research and development of privacy-enhancing technologies, and grow its engineering teams and global presence.

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The integration of Identiq adds technology designed to enable organizations to detect fraud patterns collaboratively without sharing users’ personal data.

In practice, the acquisition expands Incode’s privacy architecture with capabilities designed to strengthen fraud prevention and inter-organizational collaboration without exposing personal information.

Ricardo Amper, Founder and CEO of Incode: “We have always believed that privacy and fraud prevention are not a trade-off—they are the same problem, and they can only be solved together. Identiq is the missing piece that strengthens our privacy-by-design architecture and represents the natural culmination of the decisions we have made since day one.”

Three architectural decisions.

The company’s commitment to privacy is based on three architectural decisions adopted since its founding:

1) AI-powered identity verification.

Incode develops its solutions based on the principle of limiting human access to biometric and identity data. In the standard verification workflow, identity verification, liveness detection and document matching capabilities automate the process while providing options for human oversight.

In the era of agentic fraud, the company argues that humans and traditional tools are considerably less effective than artificial intelligence.

2) On-device processing.

Incode’s latest facial age estimation and identity verification products are designed to perform biometric processing directly on users’ devices. By keeping biometric data on the user’s own device, organizations can meet privacy and regulatory compliance requirements without compromising accuracy or security.

3) Collaboration without data exposure.

With the acquisition of Identiq, institutions can detect recurring fraud patterns across a network without exposing customers’ personal data. There are no centralized data lakes or intermediaries dedicated to monetizing information. The attack surface inherent in traditional fraud collaboration models is minimized by the architecture itself.

Identiq’s proprietary privacy-enhancing technology has demonstrated that organizations can share fraud signals without exposing customer data to third parties.

This reinforces Incode’s belief that identity security and data privacy are not a trade-off. The acquisition accelerates the company’s vision of building a world in which verified identity follows individuals, allowing trust established in one environment to be recognized in another.

Following a decade of development, Identiq will contribute to Incode’s platform a patented technology in which more than US$50 million has been invested. The integration will add network fraud intelligence to billions of identity verifications each year.

Itay Levy, Co-founder and CEO of Identiq: “Every institution shared the same concern: how can we fight fraud together without losing control of customer data? Identiq built the answer to that question. Now, as part of Incode, that capability is available to any organization managing large volumes of user data.”

Growth of agentic fraud.

Incode’s data show exponential growth in agentic fraud, defined as fraud attempts driven by AI agents. The company has processed more than 7 billion identity verifications and reported that this type of fraud accounted for 3% of detected attempts in 2024.

During the first quarter of 2026, that figure rose to 40%, and the company estimates it will exceed 90% within the next 18 months.

Providing additional context, the Identity Theft Resource Center’s 2025 Annual Data Breach Report recorded 3,322 data compromise incidents in the United States during the past year, a record figure representing a 79% increase over the last five years. The report also found that supply chain-related data breaches doubled during the same period.

Security and compliance.

While fraudsters collaborate and coordinate across institutional boundaries, organizations seeking to protect themselves in isolation operate with only a fraction of the available threat intelligence.

The traditional approach of centralizing data across institutions solves one problem while creating another. Incode’s approach seeks to avoid that trade-off through a privacy-first architecture.

Incode’s global compliance program includes certifications and accreditations such as SOC 2 Type II, ISO/IEC 27001, HIPAA Compliance Attestation, FedRAMP Ready, the Age Check Certification Scheme (ACCS) and the Kantara IAL2 Component Services Trust Mark.

Supported by enterprise-grade security mechanisms, including data loss prevention and continuous monitoring, this framework protects the personal information entrusted to the company throughout its lifecycle.