Synthetic identity risk assessment
To combat synthetic identities, organizations turn to Experian’s Sure Profile™. Sure Profile is an industry-leading solution that combats synthetic identities across the customer lifecycle. From marketing and originations to portfolio management, Sure Profile delivers outstanding detection with minimal cost and customer impact.
Where competing providers and client-built tools are limited to a single snapshot of consumer credit data, Sure Profile sees the identity’s entire history at one time, leveraging both credit and identity-specific observations. Sure Profile delivers confident synthetic identity risk assessment by applying advanced analytics and machine learning to Experian’s unique perspective on identity establishment and credit connections.
Confirm identity consistency across all data sources.
Reveal unusual patterns through interpersonal connections and linkages.
Verify legitimacy of reported history and data source growth patterns.
Analyze historical and recent changes in credit behavior.
The rapid shift to transacting online has created new opportunities for identity theft and fraud as cybercriminals have increased access to individuals’ crucial information on the dark web. Watch our video and read IDC's perspective paper on the effects of synthetic identities on banks and how Experian's Sure Profile can help.*
*Please note that loss coverage and assurance is no longer offered with Sure Profile.
Marketing: Remove high-risk identities from marketing programs.
Originations: Assess synthetic identity fraud at underwriting within a credit profile as part of fraud screening.
Portfolio management: Identify risk among accounts originated without Experian credit profiles or fraud solutions.
Protection against synthetic identity requires diligence across the lifecycle because it’s orchestrated carefully by criminals who are capable and well informed. Constant probing and information sharing gives perpetrators an advantage. As organizations change traditional credit criteria to try to raise the bar to stop synthetic identities, perpetrators simply adjust their timing and return when the identities they have created will qualify.
Complete approvals with greater confidence and less risk
Experian’s Sure Profile provides a composite history of a consumer’s identification, public record and credit information while also determining the risk of synthetic fraud associated with the consumer in review.
Synthetic identity fraud is a type of fraud in which a criminal combines real and fake identity elements to establish a credit record under a new identity. Fraudsters often use Social Security numbers from children, the elderly and others combined with additional personally identifiable information data elements to apply for credit. The fraudster then uses this information to open fraudulent accounts, which often max out credit lines before busting out.
Synthetic identity fraud allows the criminal to steal money from creditors who extend credit based on the fake identity.
Sure Profile Risk score and Attributes. For inquiries that pose a synthetic identity risk, Experian provides a risk score predicting the likelihood of synthetic identity fraud. The score allows you to adjust step-up authentication and/or secondary review levels to target the riskiest applicants. Approve more new customers by applying the proper verification strategies necessary to validate the consumer’s true identity. The Sure Profile Score’s underlying attributes are available to customers that prefer to build and maintain internal strategies and models to combat Synthetic ID.
Sure Profile works in concert with additional fraud tools, such as CrossCore® and Precise ID®, to provide insight into synthetic identity risk as part of a multilayered fraud strategy. For example, identities flagged as high risk by Sure Profile can be processed by eCBSV, offered by Experian. Alternatively, they can be sent to CrossCore® Doc Capture for document verification and facial comparison.
Experian’s machine learning models analyze various trade and identity behaviors to isolate traits and predict synthetic identities. By uncovering certain trends and anomalous instances, our machine learning models continue to improve synthetic identity-capturing capabilities.
Learn more about why over 1,700 organizations leverage Experian’s ID and fraud solutions.
Read about the three steps organizations can take to prevent synthetic identity fraud.
Discover how the right tool set can help organizations identify and prevent synthetic identity fraud.