Product Overview

FraudIQ® Synthetic ID Alerts – part of our FraudIQ integrated suite of identity verification, authentication, and fraud detection solutions – can help protect your business from losses associated with synthetic identity fraud. Delivered in batch or real-time, the alerts use patent-pending machine-learning algorithms to detect synthetic identity behaviors and patterns at various entry points.

Detecting and Preventing Synthetic Identity Fraud

New account fraud is a growing focus for criminals. This includes synthetic identity fraud: creating a fictitious identity, often combining real and fabricated information. Fraudsters attempt to gain credit with that identity, which is used for short-term gain and then abandoned. There is no one for the lender to contact to collect funds, resulting in losses and wasted resources. FraudIQ Synthetic ID Alerts notify you when synthetic identity behaviors and patterns are detected.

Reduce Fraud Charge-Offs and Other Losses

  • Evaluate various patterns with advanced matching logic, such as authorized user/credit abuse, ID discrepancies, and fraud/ID manipulations
  • Analyze potential synthetic identity behaviors and patterns revealed by reliable, multi-dimensional data sources
  • Better assess portfolio-specific risk, such as credit card, automotive, communications/utilities, and personal loans

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