Equifax announced the availability of its new fraud mitigation solution, Suspicious ID™, which provides a new level of service and protection to financial institutions and consumers alike by rapidly identifying, analyzing and eliminating identity misuse by fraudsters as they actively attempt to open new accounts.
Instant credit applications are a primary source of new business for the financial services industry, and as online channels expand, so do the number of fraudulent or compromised accounts. Unlike other fraud prevention programs that report data periodically, Equifax’ s Suspicious ID interprets fraudulent activity patterns in real-time by monitoring suspicious activities across an entire network of financial services organizations and other related industries — delivering scores and attributes that provide a basis for assessing the determined risk.
Source: Equifax Press Release
