Posts Tagged ‘ fraud prevention ’
Fraud in the deposit space is an underserved, often misunderstood area. Traditionally, fraud for financial institutions and retailers has been identity-related fraud where misuse of a third party’s identity leads to an unauthorized credit account. This credit account is then used to make purchases, cash advances, etc. until the line is depleted.[ READ MORE ]
Banks and other lenders need more advanced tools to help them detect and catch fraud perpetrators, as well as find new ways to improve profit margins on their credit holdings. The lifespan of a fraudster is short, but prolific. After a sharp and unexplained drop in identity thefts in 2010, fraud schemes climbed 12.6 percent [...][ READ MORE ]
The value of the Social Security number (SSN) in the fraud prevention process is an oft-debated topic. Some companies put a great deal of emphasis on the SSN, while others feel the value of it has been lost. Those in the latter category may not even request it from their customers in the application process. [...][ READ MORE ]
Experian is first to receive recognition for identity proofing component under Kantara Trusted Framework You might liken it to winning a gold medal if there were Olympics for fraud-prevention platforms. On July 26, Experian’s Precise IDSM platform was recognized for identity proofing at Assurance Level 3, under the Kantara Initiative’s Identity Assurance Framework, one of [...][ READ MORE ]
