FraudIQ will help provide organizations with broad safeguards from account acquisition and account management to fraud monitoring and investigations.
The cost of fraudulent applications is expected to rise to USD 28.6 billion by 2016, according to research by the Aite Group. With this in mind, more businesses are seeking comprehensive measures to help detect and prevent fraud. The FraudIQ suite provides organizations with layered defenses against fraud throughout their customers lifecycles including identity verification, authentication and fraud detection tools.
FraudIQ uses Equifaxs vast identity resources to corroborate identity information, detect behavioral anomalies, and recognize patterns. In addition, FraudIQ provides organizations with the frictionless tools they need to more effectively manage and respond to the identity intelligence they receive to help minimize financial loss to the organization while still helping optimize customer experience.
Equifax is a consumer, commercial and workforce information solution that provides businesses of all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 600 million consumers and 81 million businesses worldwide.
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