Identify fraud at the point of application
Syndicated fraud presents significant financial risk and is one of the greatest challenges that organisations face. It is critical to balance a “friction right” customer experience with fraud prevention checks.
By joining Australia’s largest commercial fraud intelligence sharing network, the Fraud Focus Group (FFG) from Equifax, you can use FraudCheck to screen applicants against an invaluable data source of confirmed fraud events. This enables an early warning system to identify fraud at the point of application and before substantial losses occur.
Modern FraudCheck is the only one of its kind in Australia, providing FFG members with access to a depth of information not available anywhere else. The pooling of member-provided data assists in the identification of common trends in fraud activity as well as additional intelligence, fraud patterns and market insights.
Key Features
- The real time data is an powerful indicator of fraudulent applications
- Australia’s largest repository of investigated and proven fraudulent data points
- Collaborative, knowledge-sharing service that helps members identify fraud
- Implement Custom Hotlists, Industry Consortiums and Fraud Velocity rules to identify fraud before it knocks at your door.
- Configurable matching algorithm to minimise false-positive results.
How it Works
After becoming a member of the Fraud Focus Group (FFG) you can gain access to the Known Fraud Exchange directly through Modern FraudCheck services or via ID Matrix.
The Fraud Lookup results are fed back into ID Matrix as part of the fraud assessment framework which in turn is part of your overall IDMatrix result. This means in one workflow you can onboard customers frictionless and in real-time, while integrating unique fraud prevention services.
Click here to learn more about the benefits of Modern FraudCheck