Veriff unveils fraud mitigation solutions

Veriff launched its new Fraud Protect & Fraud Intelligence packages. These offerings provide organizations tools and expertise to mitigate fraud attempts and verify more genuine users efficiently.

Veriff Fraud Intelligence

Each package is tailored towards meeting the specific needs of a customer depending on the nature of their business, risk requirements, and in-house fraud detection capabilities.

Both packages use advanced machine learning models, behavioral insights, and Veriff’s in-house fraud detection expertise to enhance organizations’ ability to mitigate constantly evolving fraud attempts. During the IDV process, Veriff analyzes the user’s document, face biometrics, device, and network along with previous fraud patterns to deliver industry-leading fraud protection.

“Organizations are faced with an evolving landscape of fraud risks that threaten their business, communities, compliance efforts, and brand reputation. They cannot afford to let their fraud prevention solutions grow stale, and must regularly assess and update them to stay a step ahead of the fraudsters,” said David Divitt Senior Director, Fraud Prevention & Experience at Veriff. “We’ve created powerful fraud mitigation solutions to root out identity fraud and help our customers keep their businesses safe.”

Fraud Protect helps organizations mitigate the threat of impersonation, synthetic identities, identity document fraud, velocity or bonus abuse, and multi-accounting during the remote IDV process. Key features include:

  • Enhanced detection of advanced fraud: Industry CrossLinks feature utilizes Veriff’s network of global customers to uncover fraud patterns and block repeat offenders across different organizations.
  • Access to fraud expertise and a greater level of insight and control: Veriff’s in-house fraud experts help to identify global trends and develop fraud mitigation strategies. Tactics include proactive blocklisting of repeat offenders, geolocation blocklisting to prevent unauthorized access from a specific territory, and document validation checks to mitigate new or evolving tampering methods.

Fraud Intelligence builds on Fraud Protect with additional signals to minimize fraud, and help fraud operations teams to get ahead of the ever-evolving threat landscape. Key features include:

  • Consolidated view of risk to empower decision-making: Based on data insights, RiskScore presents an actionable numerical value representing the overall risk associated with an IDV session. That score along with additional risk intelligence can then be ingested into a customer’s own risk management system for further investigation and decision-making.
  • Prevent previous unauthorized access: FaceBlock Import enables organizations to import their blocklist to prevent repeated fraudsters and those who break community guidelines or enforce gaming self-exclusion risks.
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