As the frequency and sophistication of data breaches and other types of cyberattacks
continue to grow, fraud risk assessments no longer are optional; they’ve become
an essential business process. In fact, lack of sound fraud management processes can
threaten the very viability of a business.
When it comes to fraud management, business leaders have learned the importance
of being proactive rather than reactive. Fraud is a complex, multifaceted threat to
your data security, compliance standards, financial processes and reputation. Experian®
can help you improve your fraud risk assessment process by identifying a variety of
potential sources of fraud.
Qualify, quantify and rank suspicious activity
helps businesses fight fraud by continually monitoring transactions, tracking trends
and reporting potential illicit activity. It provides an automated, statistically
based scoring and ranking system for identifying suspicious actions. It also helps
you save time and resources while meeting anti–money laundering regulatory requirements.
Verify applicants and potential customers
You can avoid and mitigate certain risks simply by knowing your potential customers
better. Experian offers a
wide variety of products that allow you to authenticate identity, verify credit
card usage, and locate inconsistencies between application and credit report data
in advance. For business applicants, you can verify
the business name and owners, prescreen their risk of going out of business and
screen their likelihood of missing a payment with BizIDSM.
Streamline your fraud detection process
Using multiple fraud detection systems and processes can be distracting; it’s
not easy to stay consistent and timely across numerous platforms. Precise
ID® provides a single platform to help you detect, avoid and manage
cross-channel fraud activity while helping you meet mandated government and industry
regulations, such as the USA PATRIOT Act, the FACTA Red Flags Rule and e-signature
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