Tag: fraud

Legitimate address discrepancies are common, which surprises most. And handling every discrepancy as high risk is expensive & inhibits customer service

Identifying an address as incorrect seems simple. But in reality, address mismatches between an application & credit bureau data aren’t uncommon. Here's how

We’re excited to announce Family Account Management: a new feature that makes it easy to extend identity protection to family and friends.

Internet-connected devices provide endless possibilities, but they rely on technology and collected data to deliver on their promises.

Experian shares five trends and twists coming over the next 12 months, that could push new boundaries and in many cases improve the customer experience as it pertains to the world of credit and finance.

Fraud/cybersecurity are two of the biggest risks challenging organizations and economy. Fraud industry has $500B billion in estimated losses annually

Technology sharing can unlock a more effective strategy in fighting fraud. Experian’s multi-layered and risk-based approach to fraud management is discussed

Experian is recognized as a leading security solution provider for fraud and identity solutions in order to protect customers and financial institutions

The mortgage meltdown and Great Recession have translated into big shifts as it relates to financial services regulations. What's to come with a new administration coming soon?

As we approach the one-year anniversary of the EMV liability shift, we have seen an increase in e-commerce fraud — to the tune of 15% higher than last year.

CNP fraud accounts for 60%-70% of card fraud in many countries & is increasing. US merchants/card issuers likely will see rise in CNP fraud w/EMV migration

Unfortunately, identity theft can happen to anyone and has far-reaching consequences for its victims. According to the US Department of Justice (DOJ)’s most recent study, 17.6 million people in the US experience some form of identity theft each year. This includes activities such as fraudulent credit card transactions or personal information being used to open unauthorized accounts. The most obvious consequence that identity theft victims encounter is financial loss, which comes in two forms: direct and indirect. Direct financial loss refers to the amount of money stolen or misused by the identity theft offender. Indirect financial loss includes any outside costs associated with identity theft, like legal fees or overdraft charges. The DOJ’s study found that victims experienced a combined average loss of $1,343. In total, identity theft victims lost a whopping $15.4 billion in 2014. Beyond money lost, identity theft can negatively impact credit scores. While credit card companies detect a majority of credit card fraud cases, the rest can go undetected for extended periods of time. A criminal’s delinquent payments, cash loans, or even foreclosures slowly manifest into weakened credit scores. Victims often only discover the problem when they are denied for a loan or credit card application. Last year, Experian found that these types of fraud take the longest time to resolve. Identity theft doesn’t just impact victims financially; it also often takes a significant emotional toll. A survey from the Identity Theft Research Center found that 69 percent felt fear for their personal financial security, and 65 percent felt rage or anger. And, almost 40 percent reported some sleep disruption. These feelings increased over time when victims were unable to settle the issue on their own, according to the report, which can result in problem as work or school, and add stress to relationships with friends and family. Thankfully, consumers are getting smarter about the best ways to protect their information, like using monitoring services or following security best practices. How are you protecting yourself against identity theft? Learn more about our Identity Protection Services

Minimize identity fraud risk, increase customer engagement & provide a good customer experience by shifting to an ID relationship management strategy

Experian selected as one of the leading players in the fraud detection and prevention space in Juniper Research’s Online Payment Fraud strategies report.

Bank executives don’t realize is they’re facing fraud because they’re literally inviting the fraudsters in bank branches.