Synthetic Fraud Model
Protect your business and bottom line from fabricated or synthetic identities
Request More InformationExamine identities and behavior to pinpoint fictitious customers
Today, fraudsters are creating identities comprised of fabricated data elements or a compilation of multiple real identity elements, with the intent to use the synthetic identity to open fraudulent accounts. In fact, it’s estimated that synthetic fraud now makes up 85% of all first-party fraud*. And while every business understands how important it is to detect new account fraud early, there’s also pressure to make fast decisions and increase approval rates, all while providing a seamless customer experience and remaining compliant.
TransUnion’s Synthetic Fraud Model is specifically built to analyze consumer behaviors by uncovering anomalies or suspect patterns in account openings, authorizations and associated trades – across all lines of business, including credit card, auto loans, personal loans and more. Our model helps detect this costly type of fraud before a fraudster “cashes out.”
*Synthetic Identity Fraud, ABC News 2015
-
FCRA compliant – helps to withstand model governance reviews
-
Easily integrated into customer operations and workflows – delivered via batch or real-time
-
Incredibly low false/positive rates, minimizing the potential impact to any good applicants or back office review queues
Strike the Right Balance Between Fighting Fraud and CX: Four Findings
The Path Forward: Gain Consumer Trust and Earn Loyalty
Your roadmap for detecting fraud in real time
Balancing Fraud and the Customer Experience as Fraud Evolves
