Increased volume of fraud attempts during back to school shopping season. Is your fraud strategy prepared to handle the increased volume?

According to the latest Experian-Oliver Wyman Market Intelligence Report, mortgage originations for Q2 2015 increased 56% over Q2 2014 — $547 billion versus $350 billion.

Protect consumers on summer vacation fraud. Evidence shows fraudster activity increases during the summer and identity theft becomes easier. 

According to a recent Experian analysis, millennials (ages 19–34) are now the largest segment of the U.S. population and are also the least credit savvy group.

Surveillance and fraud staging are the seemingly benign and often-transparent account activities that fraudsters undertake after an account has been compromised but before that compromise has been detected or money is moved.

According to VantageScore® Solutions' annual validation study, VantageScore 3.0 scores 36 million incremental consumers considered unscoreable by conventional credit scoring models.

Understanding shelf companies and shell companies In our world of business challenges with revenues level or trending down and business loans tougher than ever to get, “shelf” and “shell” companies continue to be an easy option for business opportunities. Shelf companies are defined as corporations formed in a low-tax, low-regulation state in order to be sold off for its excellent credit rating. Click on the internet and you will see a plethora of vendors selling companies in a turn-key business packages. Historically off-the-shelf structures were used to streamline a start-up, where an entrepreneur instantly owns a company that has been in business for several years without debt or liability. However, selling them as a way to get around credit guidelines is new, making them unethical and possibly illegal. Creating companies that impersonate a stable, well established companies in order to deceive creditors or suppliers in another way that criminals are using shelf companies for fraudulent use. Shell companies are characterized as fictitious entities created for the sole purpose of committing fraud. They often provide a convenient method for money laundering because they are easy and inexpensive to form and operate. These companies typically do not have a physical presence, although some may set up a storefront. According to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network, shell companies may even purchase corporate office “service packages” or “executive meeting suites” in order to appear to have established a more significant local presence. These packages often include a state business license, a local street address, an office that is staffed during business hours, a conference room for initial meetings, a local telephone listing with a receptionist and 24-hour personalized voice mail. In one recent bust out fraud scenario, a shell company operated out of an office building and signed up for service with a voice over Internet protocol (VoIP) provider. While the VoIP provider typically conducts on-site visits to all new accounts, this step was skipped because the account was acquired through a channel partner. During months one and two, the account maintained normal usage patterns and invoices were paid promptly. In month three, the account’s international toll activity spiked, causing the provider to question the unusual account activity. The customer responded with a seemingly legitimate business explanation of activity and offered additional documentation. However, the following month the account contact and business disappeared, leaving the VoIP provider with a substantial five figure loss. A follow-up visit to the business showed a vacant office suite. While it’s unrealistic to think all shelf and shell companies can be identified, there are some tools that can help you verify businesses, identify repeat offenders, and minimize fraud losses. In the example mention above, post-loss account review through Experian’s BizID identified an obvious address discrepancy – 12 businesses all listed at the same address, suggesting that the perpetrator set up numerous businesses and victimized multiple organizations.  It is possible to avoid being the next victim and refine and revisit your fraud best practices today. Learn more about Experian BizID and how to protect your business.

According to the latest Experian-Oliver Wyman Market Intelligence Report, mortgage originations increased 25% year over year in Q1 2015 to $316 billion.

According to a recent Experian survey, 68% of vacationers spend more money than expected when traveling, often relying on credit cards to make up the difference. Millennials rank even higher when it comes to risky vacation spending. One-third report they have not been saving up in advance of vacation, 72% say they spend more than expected when traveling, and 50% plan to use their tax refund to pay for summer travel this year. Lenders can educate consumers about the impact of utilization on credit scores and reduce loss rates by offering According to a recent Experian survey, 68% of vacationers spend more money than expected when traveling, often relying on credit cards to make up the difference. Millennials rank even higher when it comes to risky vacation spending. One-third report they have not been saving up in advance of vacation, 72% say they spend more than expected when traveling, and 50% plan to use their tax refund to pay for summer travel this year. Lenders can educate consumers about the impact of utilization on credit scores and reduce loss rates by offering personalized credit-education services.personalized credit-education services. >> Infographic: Setting a budget for summer travel

A recent Experian survey found that while consumers are getting better about protecting their information on a regular basis, many do not take the same precautions when traveling. According to the survey, 1 in 5 consumers has had an item with sensitive information lost or stolen while traveling, and 39% have experienced identity theft while traveling or know someone who has. Organizations can protect themselves and customers by using innovative fraud-detection tools designed to reduce potential losses while preserving the customer experience. >> Video: The reputational impact of fraud and identity theft

I would talk about three opportunities that the energy utility vertical could and should take advantage of.

While an influx of small businesses opened during the height of the recession, a recent Experian study found that between 2010 and 2014, small-business start-ups decreased by nearly 45%.

Some of my fondest memories on road trips as a child were the games we were able to play. I’m sure many kids played “I Spy” and did “Sing-a-longs,” but my go-to game was “Slug Bug” (It’s a game where you get points for spotting a Volkswagen Beetle). While it’s been quite some time since I’ve played the game, I still find myself very aware of the different types of vehicles around me. As a matter of fact, if I were to play the game today, I’d probably rack up a number of points for the amount of cross-over utility vehicles (CUVs) I’ve seen on the road lately. There are quite a few. After reviewing Experian Automotive’s most recent Market Trends and Registration analysis, it all made sense. During the first quarter of 2015, the entry-level CUV was the top new registered vehicle segment, up 6.3 percent from a year ago. It also marked the fifth consecutive quarter that the entry-level CUV was the top-selling new vehicle segment. It was followed by the small economy car and a full-sized pickup truck. The analysis also found that it wasn’t just the CUV that saw an uptick in new registrations. In fact, seven of the top 10 new registered vehicle segments saw increases in sales from a year ago, and 16.6 million new vehicles overall found their way onto U.S. roads in the first quarter of 2015. The spike in new registrations combined with fewer vehicles going out of operation drove the number of vehicles on the road to nearly 253 million, its highest level since the second quarter of 2008. As CUVs continue to stand on top of the mountain of new vehicle sales, and small economy cars sprint pass the full-sized pickup truck, you might think similar patterns have emerged in the overall number of vehicles on the road. But it’s not necessarily the case. Despite falling to the third most purchased new vehicle segment, full-sized pickup trucks remain the most popular vehicle on the road, making up roughly 15 percent of the market. That said, entry-level CUVs have seen the most dramatic increase, rising 12.2 percent from a year ago. Trends in the automotive market can sometimes appear to be cyclical, which is why it’s important for the industry to pay close attention to the data sets available to them. By leveraging the data, dealers, retailers, and manufacturers can benefit from the insights to make better business decisions, whether it’s relocating inventory or adapting to consumer demand. Similarly, identifying what vehicles consumers are driving, can do more than help you win in “Slug Bug,” it can help you win in the market.

According to a recent Experian analysis, bankcard balances increased 6% year over year to $629 billion in Q1 2015, while delinquencies remained low with 60–89 day-past-due delinquencies declining 8%.

As the summer home buying season kicks into high gear, a newly released survey shows the importance of understanding credit scores and their impact on homebuyer behavior.