Identity Screening

The crucial first step in combating fraud is to scrutinize the identity’s components as presented, or asserted, by the individual (such as name, address, social security number and telephone number). Are they accurate? What is known from existing records about portions of the identity? These steps help isolate and expose much of the fraud before more time-consuming, complex and intrusive solutions are used.

Equifax offers several identity screening solutions to:

  • Confirm that account numbers presented by a consumer are accurate and belong to that consumer. Account number verification also provides verification of name and address, in addition to any fraud or military alerts that might be on the consumer file.
  • Confirm that social security numbers belong to an applicant to help reduce the risk of loss caused by synthetic identity fraud.

Equifax identity screening solutions and tools include the following features and benefits.

Identity Scanning- is the first step in identifying fraudulent activity. It leverages more than a dozen up-to-date public and proprietary databases and returns warnings based on fraud victim alerts, misused social security numbers, hot addresses, and suspicious phone numbers.

Velocity Detection- provides all-purpose protection by analyzing and detecting patterns across multiple institutions and industries that are indicative of fraudulent activity.

Device Risk Scoring- helps identify suspicious activity that is associated with the device the consumer is using. This is an indication of potential fraud with the current application.

SSN Screening- is a powerful weapon for combating synthetic identity fraud by alerting when a social security number (SSN) is being used inappropriately and potentially by a different, illegitimate identity.

Account Verification- helps solve the very specific problem of confirming whether an account number provided by the consumer is contractually owned by that consumer.

OFAC Screening- is an automated way to comply with Office of Foreign Assets Control (OFAC) regulations by checking against OFAC listings, Specifically Designated Nationals, and Blocked Persons.

To combat more sophisticated fraud and identity theft, you must authenticate that the consumer presenting all the correct identity components is indeed who they say they are – learn more about Identity Proofing and “true name” fraud.