Mitigating Application Fraud from Synthetic Identities - NEW

The latest study from Javelin explores the challenges that FIs and issuers face against a rising tide of application fraud and how the sharing of intelligence offers long-awaited hope in detecting the synthetic identities that make it possible.

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Identity Fraud: What Can Enterprises Do to Better Fight it? - NEW

As you might expect, identity theft tops the list of consumer complaints that are reported to the FTC and other enforcement agencies every year. According to the 2015 ITRC Data Breach Report, there were 781 data breaches in 2015 with over 169 million records exposed. So what can enterprises do to protect their customers against identity-related fraud?

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Fraud Mobility: Exploitation Patterns and Insights

One of the greatest challenges to fraud prevention and detection is understanding how a fraudster uses an identity and how quickly. This new report from ID:A Labs provides insight into fraud mobility by exploring the distinct patterns of fraud behavior associated with compromised identities.

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Making Digital Account Opening Simpler, Safer and Seamless

This new study from Javelin explores the shift to digital account opening, and the challenges facing financial institutions as they seek to fulfill consumer expectations in this digital-centric world.

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Millennials: High Risk or Untapped Opportunity?

The latest study from ID:A Labs analyzes consumer behavior for three demographic groups, millennials, Generation X and baby boomers, across multiple industries, and explores the rates at which millenials are seeking and being denied credit.

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The Long Con: An Analysis of Synthetic Identities

This comprehensive study from ID:A Labs shows that the rate of synthetic identity fraud has increased more than 100 percent since 2010. This white paper the estimated size of the synthetic fraud issue, and possible solutions for reducing synthetic fraud.

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Harnessing Traditional and Alternative Credit Data: Credit Optics 5.0

Due to the limited data used to calculate traditional credit scores, they cannot provide a complete view of a consumer’s credit history. With the unique combination of traditional and alternative credit data, organizations can now have more complete, up-to-date access into a consumer’s risk assessment.

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Best Practices in Account Takeover

This paper identifies gaps in the use of traditional controls currently employed to prevent account takeover fraud, and offers an alternative to access-focused solutions.

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I See Fraud Rings

According to a new study by ID Analytics’ ID:A Labs there are more than 10,000 identity fraud rings in the U.S. This study is the first to systematically find many thousands of identity fraud rings, by developing an algorithm capable of automating the process of examining the interconnections between identity fraudsters.

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Improving Insight into Identity Risk through Attributes

How can an institution gain detailed insight into identity risk to assess the risk of new customers? Identity attributes are an excellent complement (or alternative), to scores when an institution is looking for a third-party opinion about a prospective customer’s legitimacy or risk for fraud.

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Exploring-the-Impact-of-SSN-Randomization

While the Social Security Administration’s 2011 decision to randomize Social Security Number (SSN) issuance made the identifier less susceptible to fraudsters, it also caused a series of unintended consequences for organizations that rely on the number’s sequencing as a key part of identity-verification and fraud defense.

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Address Discrepancy Data Study

Minors’ identities are appealing targets for fraudsters because their personal data is untainted, legitimate, and less likely to be monitored for misuse. To provide greater insight into the scope of child identity fraud, ID Analytics conducted a study of more than 172,523 children enrolled in ID Analytics’ Consumer Notification Service.

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Complying with the “Red Flag Rules” and “FACT Act Address Discrepancy Rules”

The Red Flag seek to protect lenders and consumers from the detrimental impact of identity fraud. Affected creditors are required to design and implement procedures for detecting and preventing identity fraud at the point of account origination as well as during management of existing accounts.

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Online Interactions Data Study Findings

While the convenience, personalization and speed of online interactions have resulted in mainstream consumer adoption, these same interactions have created new and unique challenges for businesses. One of these challenges is the validation of identity assertions made in an online or faceless transaction.

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Child Identity Fraud Study

Minors’ identities are particularly appealing targets for fraudsters because their personal data is untainted, legitimate, less likely to be monitored for misuse, and few tools are available to protect children against attack. To provide greater insight into the scope of child identity fraud, ID Analytics conducted a study of more than 172,523 children enrolled in ID Analytics’ Consumer Notification Service at some point during the 12-month period.

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The Trouble with Names /Dates of Birth Combinations as Identifiers

Direct marketing and many other consumer analytics frequently rely on name/dates-of-birth (DOB) combinations for personal identification. We will demonstrate that empirically, names/DOB combinations are woefully inadequate as a precise tool for personal identifiers; this is true for common, especially for cyclical and trendy names appended by a DOB.

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Scaling Properties of ID Analytics Networks

Despite the absence of apparent associations between individuals seeking credit, we find that the credit application process reveals a socio-economical network of credit customers. In the complex heterogeneous data captured by ID Analytics, we observe networks of people connected by their names, dates of birth, SSNs, phones and addresses.

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