Fraudsters are engaging in account fraud at an increasing rate, opening new accounts with stolen or synthetic identities. Javelin Strategy & Research estimates that new account fraud will rise to a projected USD 8 billion in annual losses by 2018.
The analytics-based solution also includes custom scoring based on organizational objectives and uses Equifax keying technology to validate components of an identity to help decrease the occurrence of false positives.
Equifax powers the financial future of individuals and organizations around the world. The company organizes, assimilates and analyzes data on more than 800 million consumers and more than 88 million businesses worldwide, and its databases includes employee data contributed from more than 5,000 employers.
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