Voice is as unique to an individual as the fingerprint, face and iris. While the fingerprint, face and iris capture requires special apparatus – often expensive – no such devices are required for voice authentication. This makes it simpler and cost-effective to create a verification system that can let the legitimate customer through and block […]
What is Atreus? Atreus is a powerful application fraud detection tool. What is Application Fraud? In simple terms, Application Fraud is the deceptive practice of providing incomplete, inaccurate, fabricated or stolen information with an intent to defraud the service provider. It’s simple and it’s pervasive. To be more technical, application fraud can be classified into […]
What is PRISM and what can it do? A. PRISM is a database of over 3 million International Revenue Share test numbers (IRSF), as at 30 April 2020, which are provided by IPRN resellers to test that a revenue share destination and number range can be called from a given location. These test numbers, used […]
Atreus Application Fraud system is designed with a simple principle in mind: the best way to control fraud is to prevent fraud in the first place. Most financial service providers are horrified when they write off a large proportion of their unpaid loans or when communication service providers find that a good percentage of the […]
“First-party fraud will be responsible for an estimated US $18.5 billion in credit losses for Financial Institutions around the globe in 2012, this is expected to grow to US $28.6 billion by 2016.” AITE Report: First-Party Fraud: The Global Battle Against Diabolical Charge-Offs, October 2012. Application fraud is the deceptive practice of applying for products […]
In simple terms, Application fraud is the deceptive practice of applying for products or services with an intent to defraud the service provider. Application fraud is pulled off in many ways – using own identity but with subtle changes in personal details to circumvent normal personal rules checks; creating fake, synthetic or multiple identities that […]
Detecting and preventing application fraud requires more than just credit scorecards. The ability to process applications and make connections to previous fraud can go a long way to detect and prevent application fraud.
Most Communication Service Providers are horrified when they check to see how many expensive smartphones they have shipped through their subsidy programs have not been connected to their network. Is you Application Fraud controls strong enough?
Application fraud manifests in different ways but the overarching principle that applies to Application fraud is those customers who come in with an intent to defraud the organization – i.e. applying for products or services for which they have no intent to pay.
Application Fraud Management, as we see it, is a powerful way to stop fraud from occurring in the first place. Anecdotal evidence suggests that fraudsters take full advantage of vulnerabilities in the application process and come back aggressively to exploit the system. If anyone is interested in controlling fraud, controlling application fraud should be the first step.