Fraud Prevention after Someone Else’s Data Breach
Armed with private identity information acquired through data compromise, hacking, social engineering, or social networking, fraudsters are constantly on the lookout for vulnerabilities to attack valuable assets, fraudulently apply for benefits or credit, and take over existing account access.
It doesn’t matter much how or from where the personally-identifiable information (PII) or other identity elements are stolen — the subsequent use of those stolen identities to attempt breaches of other sites and online applications compounds the problem.
Identity fraud prevention tools and strategies based on only one source of data are not enough to prevent fraud from today’s advanced criminal groups. For example, conventional identity screening tools often don’t uncover suspicious relationships between components of an identity or rapid spikes in activity regarding a specific identity component. In addition, conventional fraud screening tools do not monitor or analyze an identity’s activities across an entire network of relevant industries.
We advise a layered approach to protecting against fraud. Risk-based fraud prevention starts with knowing who is conducting that transaction, and protecting customer privacy includes knowing who has access to your data and why.
Contact us for more information about minimizing fraud during an account lifecycle.
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