Fraud Risk Scheme:
Creation of a fake identity by combining real elements (a valid social security number) with fictitious data to open bank accounts and obtain credit.
Detection:
In-depth document analysis: Verification of the authenticity of identity documents using specialised solutions.
Biometric verification: Facial and voice recognition to compare against official databases.
Data cross-referencing: Checking for consistency between the declared identity and existing digital footprints.
Behaviour monitoring: Alerts for multiple account creations using similar data.
Prevention:
Enhanced authentication: Systematic two-factor verification for new account openings.
Advanced technology solutions: Artificial intelligence to detect inconsistencies in application files.
Secure information sharing: Collaboration between financial institutions on fraud attempts.
Ongoing training: Sensitising advisors to new fraud techniques.
Share your feedback:
What tools, techniques, and processes are used for detection and prevention?
