Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Equifax announces fraud mitigation solution
ATLANTA (7/26/12)--Equifax has released a new fraud mitigation solution to eliminate identity misuse by fraudsters when they 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. 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. It also delivers scores and attributes that provide a basis for assessing risk.

Suspicious ID provides rapid analysis of spikes in suspicious application data, catching questionable attempts or high-risk applications upon account opening in real time. It also reduces the common problem of "false positives" that appear when a member's information is entered incorrectly.

Suspicious ID also improves fraud capture rates and decreases the need for manual reviews, Equifax said.


RSS print
News Now LiveWire
Reimagined branches shift to member, not #creditunion, needs: @cunacouncils white paper http://t.co/lN2mu0IVar
18 minutes ago
Data breach at Home Depot in Sept. cost CUs nearly $60M 2 reissue cards, deal w/fraud & other costs: new @CUNA survey http://t.co/kzHSX3rAzA
39 minutes ago
.@COFCU's #CommunityChallenge saves members $700K in interest, gives back to local charities See #NewsNow http://t.co/67o0rOp3Ml
1 hours ago
Post #QE, @federalreserve concerns still linger, says @CUNA's Schenk http://t.co/0GSrpUYpyG
1 hours ago
.@CUNA's @HampelBill in @WSJ on @federalreserve mtg: 'No significant impact on financial markets or the economy' http://t.co/sbJycxdDXS
2 hours ago