Cybercriminals are working hard to bypass traditional defenses — outpacing many organizations’ current fraud detection systems. Are your risk models able to keep pace?
Synthetic identities, blending real and fabricated identity elements, are increasingly used to fool fraud models. So, how should you respond? Over half of US business leaders surveyed said they update their fraud models monthly. Yet, a fragmented view of fraud and identity risk can lead to poor decisions — raising the likelihood of false positives and missed fraud.
If you truly want to improve your fraud risk decisioning, TruValidate™ Fraud Analytics deliver powerful insights by uncovering linkages between disparate pieces of information — helping you evaluate risk more effectively. Fraud Analytics integrate the breadth of TransUnion’s proprietary and public data to spot risky identities and consumer behaviors across channels and throughout the full consumer lifecycle.
Target unique or industry-specific fraud through custom models, superior data and analytic expertise.
Analytics solutions for fraud detection and prevention
- Synthetic Fraud Model
- Credit Washing Solution
- Rapid Default Model
- Inquiry and Trade Velocity
Improve your ability to recognize fake or altered identities. TruValidate Synthetic Fraud Model detects costly identity fraud risk across the consumer lifecycle — enabling expedited service for legitimate customers while protecting your organization from synthetic identity fraud.
Reduce risk at account creation, applications, origination and portfolio review. Built to meet GLBA and FCRA standards, Synthetic Fraud Model solutions expose hidden connections that indicate fraud risk, helping you:
- Identify synthetic fraud by matching consumer behavior to real-world identity patterns using public records and event-based data
- Better evaluate risk profiles to apply the most effective fraud models for your unique detection needs
- Improve match accuracy and reduce false positive for highest-risk identities
- Integrate credit abuse models that more accurately detect default losses commonly associated with synthetic identities
Improve credit risk assessments. TruValidate Credit Washing Solution helps lenders assess true credit risk by evaluating the removal of negative but accurate information from a credit report.
Elevated identity suppression-driven risk and related abuse impacts prescreen marketing, account origination and portfolio review processes. Credit Washing Solution analyzes suppression behavior across all three types of credit washing activity — fraud, human trafficking and account maintenance — using these products:
- Tradeline Washing Attributes detect atypical decreases by tracking changes in reported charge-offs across time periods and lines of business
- Inquiry Washing Attributes flag suppressed hard inquiries by tracking changes in hard inquiries
- Credit Washing Default Score predicts the likelihood of future charge-offs
Detect potential credit abuse behavior earlier. TruValidate Rapid Default Model and Early Payment Default help detect suspicious behavior associated with synthetic identities and those with no intent to repay credit obligations.
Mitigate fraud losses across the consumer lifecycle, including account creation, credit decisioning and account monitoring. Rapid Default Model and Early Payment Default detect overutilized credit risk and borrowers showing early default behavior by leveraging:
- Purpose-build models targeting behavior associated with fraud across the entire TransUnion credit universe
- Model attributes providing rich datasets for internal model development or data enhancement
- Real-time, customizable fraud alerts to reduce the time and cost of manual reviews
Identify potential personal loan credit and fraud risks. TruValidate Inquiry and Trade Velocity assess risk for personal loan inquiries in real time, helping prevent the issuance of loans to truly malicious, synthetic or credit-hungry borrowers.
Evaluate risk at multiple touchpoints, including prequalification and funding, and before credit or funds are issued. Inquiry and Trade Velocity help you make smarter underwriting decisions regarding adverse action through:
- Substantial capture of personal loan hard inquiries from within TransUnion’s extensive credit network, as well as other credit networks
- Flexible, wide-ranging data coverage with 10 windows of inquiry and opened tradeline behavior (e.g., current day, past week, past two weeks, month, 180 days)
- Specific inquiry and trade velocity data provided in real time for increased granularity
- Case Study #3
Protect your business with Fraud Analytics solutions from TransUnion
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