In today’s digital-centric world, fraudsters are leveraging vast amounts of digital content for the purpose of false information, financial fraud and phishing attacks. Using different web forums, marketplaces and social media channels across the internet, fraudsters create spam and scam attacks to trick everyday consumers into sharing sensitive information – later sold or used to steal rewards, store credit, or even cash and identities.
Attacking Fraud Holistically
“Whether it’s Ransomware, loan stacking, loan fraud, payment fraud or something else, fraudsters don’t take a singular approach to attacking businesses,” said Angelica Jeffreys, Vice President Sales Leader, Automotive Financial Services at Equifax. “Therefore, there’s no such thing as a single fraud solution. Addressing the various forms of fraud requires auto lenders and dealers to leverage the right tools at each stage of the customer journey.”
As a result, Equifax is now leveraging a multidimensional approach. Lenders and dealers today are leveraging key Equifax solutions that provide a holistic view of their fraud risk, correlated across a growing number of channels.
Sophisticated Fraud Alerts
As organizations shift more of their operations to digital, fraudsters are focusing more of their activities on things like new account fraud and often creating new, fraudulent identities or Synthetic Identities. “Synthetic…
