Case Study

Tackling Fraud Initiated Through Authorized User Abuse

Case Study

Tackling Fraud Initiated Through Authorized User Abuse

Credit issuers can face synthetic identity fraud attempts that amount to tens of millions of dollars or more in potential charge-offs. But, there is a solution.

FraudIQ® Synthetic ID Alerts enable credit issuers to efficiently identify card accounts likely to be a result of authorized user abuse.

In this case study, a leading credit card issuer was struggling with rising unrecoverable charges. The customer knew that a portion of card accounts were a result of synthetic identities
created via authorized user abuse, but did not have an efficient way to identify them.

With FraudIQ Synthetic ID Alerts, the credit issuer was able to:
*Pinpoint card accounts that were likely opened using synthetic identities
*Protect against fraud write-off charges resulting from lack of payment on card balance or interest charges from synthetic identity accounts