Identity and Fraud Focus

Curtailing Revenue Loss from Identity Fraud

Fraudulent account activity and identity fraud are both significant drains to today’s business resources. In the era of online and mobile commerce, it’s more important than ever for companies to make sure business transactions are being done with a real person and with the right person. Yet, many intrusive verification processes end up creating customer abandonment or delaying [Read More…]

Deciphering Multi-Layered Identity Proofing Strategies

Fraudsters are a smart group. With each fraud prevention method that’s introduced, they figure out ways to work around it. Organizations must be careful when using technologies that fraudsters may have compromised, but that doesn’t mean throwing everything out and starting from scratch. Equifax fraud expert, Gasan Awad, recently blogged about this for the RSA [Read More…]

Synthetic ID Fraud Is Not a Fictional Threat

The growth of synthetic identity fraud shows few signs of slowing. Data breaches, social media mining, phishing and other schemes have given fraudsters easy access to the consumer data used to build synthetic, or false, IDs. But there are good solutions out there to help organizations to fight back against synthetic ID fraud. These solutions detect and monitor behavioral patterns early [Read More…]

When is “Knowledge-Based” not Assured Authentication?

Knowledge based authentication (KBA) has been declared dead many times over the past few years.  But what is KBA and what exactly is the problem?  KBA is a term that has been used too generically across the identity universe and different providers get away with using the term to refer to vastly different levels of [Read More…]

Pattern Detection and Data Anaytics Play a Vital Role in Fraud Management

Most organizations are no stranger to the concept of data analytics and behavioral patterns to detect fraud. After all, those sorts have analytics have been applied to internal data and transaction monitoring systems for years. However, the ability to spot fraud patterns is often limited only to what can be detected within the organizations’ walls. Fraud experts agree [Read More…]

Tips to Detect and Deter Fraud during Customer Acquisition

ATLANTA, March 29, 2016 /PRNewswire/ — Equifax Inc. (NYSE: EFX) has issued several resources to help organizations combat the elusive and increasingly expensive problem of fraud during customer acquisition. The resources describe current fraud scenarios, the background and methods most commonly used to commit this type of fraud, and outline best practices to detect and deter [Read More…]

Working with the C-Suite to Mitigate Fraud

Equifax Fraud product manager, Rich Huffman, was recently published in Corporate Compliance Insights discussing how Boards of Directors can stay on top of trends in the fraud landscape and ensure C-level executives implement effective measures to detect and mitigate fraud. Huffman recommends that Boards also should encourage the executive team to set realistic goals. Companies shouldn’t aim to stop [Read More…]

Two Sample Fraud Scenarios and Solutions for Combating Them

There are as many fraud schemes as there are fraudsters, but they fall into a few general buckets. Here are two of the most common fraud scenarios and solutions for solving them. BUSINESS PROBLEM A credit card issuer experiences fraud losses when fraudsters use fabricated account information, usually with a real SSN. FRAUD SCENARIO A card issuer offers [Read More…]