This is usually done when applying for a product or service to receive more favorable rates, or if they have no intention of meeting their commitments. Another example could be if an individual can make a false claim against an insurer to obtain a payment they are not eligible for.

Second party fraud is difficult to detect because the person whose identity being used to commit fraud, has knowingly allowed it to happen. This means the usual characteristics associated with fraud aren't so obvious and are harder to uncover. Pipl's ability to uncover hard-to-detect "associations" between people is powerful tool in the fight against 2nd Party Fraud.

A customer identity validation protocol originally developed by Arcot Systems (now CA Technologies) and first deployed by Visa to reduce CNP fraud. Shoppers are required to enter a code provided by their card issuer. Its use shifts fraud liability to the credit card issuer but it's been linked to high bounce rates. Many merchants and fraud prevention platforms leverage Pipl data for targeted reductions of customer friction because it provides rich "data stories" about customers on a global scale.

Third party fraud is a growing trend. One form is manufactured identities (Synthetic Identity Fraud) where an individual creates a new identity from stolen and false information. Up to 50% of third party fraud is seen as part of a fraud ring with activities linked to multiple identifies. Third party fraudsters acquire personal identifiable information and then use the data to take over an identity which is used to establish credit or buying products.

Most anti-money laundering programs focus on the source of funds as opposed to anti-terrorism and similar programs which focus on the destination of funds. Typically anti-money laundering programs are run by the financial institutions to analyze customer data in order to detect suspicious transactions.

Other security features for the credit card include the CVV2 number. AVS is used when the merchant verifies credit card data, such as billing address and ZIP code, against the billing information of the cardholder. AVS verifies that the billing address of the credit or debit card matches the address that was given by the customer. Because AVS only verifies the numeric portion of the address, certain anomalies like apartment numbers can cause false declines. Pipl’s unmatched breadth and depth of public identity information (including Address History) lowers risk, lifts approval rates and cuts their losses to fraud and chargebacks.

Fraudsters use parts of the victim's identity such as an email address to gain access to financial accounts. They then intercept account related communications to keep the victim unaware of any threats. Victims are usually the first to detect account takeover once they discover charges or questionable withdrawals. There has been a increase in account takeovers since the adoption of EMV technology, which makes it more difficult for fraudsters to counterfeit physical credit cards.

All merchants are required to maintain such an account to receive payment for credit card transactions. Daily card transactions are deposited into the merchant’s account after settlement and fees are deducted. In this way, the financial institution "acquires" or serves as the intermediary to facilitate the credit transaction and pays the merchant, less a fee for the service.

U.S. Federal rules require lenders to provide consumers detailed explanations of adverse actions. It means if consumers are denied credit or given less than the best terms, the lender must make available a free copy of the credit report that the decision was based on.

In many Risk Management scenarios such as credit scoring and fraud detection, algorithms are the complex set of calculations that analyze and surface a person’s past credit oriented behavior to determine the level of risk that person carries for future activity.

Decision Platform encompass machine learning, reasoning, natural language processing, speech recognition, human–computer interaction, dialog and narrative generation, among other technologies. Pipl API helps companies automatically verify and enrich identity records across their decision platforms. These global providers know from testing that Pipl’s unmatched breadth and depth of public identity information lowers risk, lifts their approval rates and cuts their losses to fraud and chargebacks.

Typically anomalous items translate to some kind of problem such as fraud. As with all computing applications, the quality and quantity of data inputs such as high quality identity data intelligence is key to successful outcomes.

Application is a growing problem for financial institutions across the world. As identity crimes continue to grow, it is increasingly difficult for FIs to determine who they are dealing with in all service channels. These identity crimes are resulting in a number of strategies as FIs make new technology investments to meet both compliance (KYC) and fraud challenges. Pipl’s deep identity profiles help you accept “thin file” applicants while detecting growing schemes like synthetic identities so you stop fraudsters from establishing, then nurturing, fake profiles and accounts.

Reported by Gartner as one of the top 10 strategic technology trends in 2019. AI is heavily leveraged by the fraud management industry. Pipl’s unmatched breadth and depth of public identity information powers AI which helps reduce risk, lift approval rates and cut losses to fraud and chargebacks. All while giving their customers a friendly, frictionless, and instantly gratifying experience.

The term is increasingly used to describe a path or means by which a fraudster finds a way to commit theft, such as Identity Theft, Synthetic Identity or an Insider Attack. Our digital world runs on trusting who is behind an online identity. But the very concept of identity has fractured into hundreds of data points that fraudsters constantly seek to exploit. That’s why Pipl is the first choice whenever companies must confirm if a person is who they claim to be.

From the merchant’s standpoint, authentication means getting the right information from the consumer, and having it verified by the transaction network. In recent years, authentication has been stepped up by means including security codes on credit cards. Pipl offers uniquely powerful identity data for verification tools so you can confidently approve, deny or escalate transactions.

More modern Authenticator services give an extra layer of protection to customers by confirming a customer’s identity during the log-in or checkout process. Two common ways to do this are Challenge Questions and Biometrics. Because Pipl data provides such a rich cluster of data points it is especially useful for Challenge Questions. Users may be asked a series of security challenge questions contained in the profile and that only they know the answer to. If the challenge questions are correctly answered, users can continue signing in to a site.

This process helps prevent credit card fraud. Our digital world runs on trusting who is behind an online identity. But the very concept of identity has fractured into hundreds of data points that fraudsters constantly seek to exploit. That’s why Pipl is the first choice whenever companies must confirm if a person is who they claim to be.

The leading six or eight digits of the card number comprise the issuer identification number (IIN) sometimes referred to as the "bank identification number (BIN)". The remaining numbers on the card, except the last digit, are the individual account identification number. The last digit is the Luhn check digit. IINs and PANs have a certain level of internal structure and share a common numbering scheme set by ISO/IEC 7812. Payment card numbers are composed of 8 to 19 digits.

Backdoors are used for securing remote access to a computer to gain access to privileged information like passwords, corrupt or delete data on hard drives, or transfer information within autoschediastic networks.

It’s critical that investigators cut the time spent developing new leads, filling information gaps, unmasking tipsters and finding known associates. Pipl lets you follow hunches and speeds your investigation tasks. It quickly exposes new directions to 1) quickly locate persons of interest 2) uncover associations between people, addresses, phones and social handles 3) determine the credibility of sources, witnesses or suspects 4) track changes in historical online and offline identity information 5) connect personal, professional, and social information.

The rapid increase in the volume of raw event data generated by the digital world enables methods that go beyond typical analysis by merging these data points with demographics (such as those provided by Pipl) and other traditional metrics that show what kind of people took what actions in the past and understanding how consumers act and why, to enable accurate predictions about how they are likely to act in the future.

E-commerce merchants use this data to gain detailed insights into customer behavior and identify business trends. Pipl’s proprietary technology uses robust statistical models and data-rich algorithms to accurately match any piece of data about a person — name, email address, phone number, or social media username — to a comprehensive profile which includes professional, social, demographic, and contact information.

The network can be public, with unlimited access (as with bitcoin), or private and permission-based.

Botnets can be used to perform distributed denial-of-service attack (DDoS attack), steal data, send spam, and allows the attacker to access the device and its connection. The owner can control the botnet using command and control (C&C) software. The word "botnet" is a combination of the words "robot" and "network". The term is usually used with a negative or malicious connotation.

Short for software robots, this term is used to describe tools designed to carry out repetitive tasks automatically. Tech savvy fraudsters may deploy bots to target eCommerce websites, by creating fake accounts and placing orders using stolen credit card details.

Fraudsters and other criminals link an account to a disposable phone number to bypass 2FA. Today, phone numbers can be generated via burner phone apps or services. These work like prepaid phone cards, only allowing you to use them for a limited amount of time before being recirculated. Because they go through your phone’s original cellular data, they can be traced.

The scheme happens when a person establishes good credit, either under their own name or by identity theft using stolen Social Security numbers. For a period of time the Fraudster continues making on-time payments, building credit, and applying for other card accounts with higher credit limits. After credit is built, the “bust-out” takes place, wherein the fraudster maxes out all the credit accounts and ceases making payments.

The intentions of the Act are to provide California residents with the right to 1) Know what personal data is being collected about them. 2) Know whether their personal data is sold or disclosed and to whom. Say no to the sale of personal data. 3) Access their personal data. 4) Request a business to delete any personal information about a consumer collected from that consumer. 5) Not be discriminated against for exercising their privacy rights. Pipl takes privacy compliance very seriously, we are certified for the EU-US Privacy Shield to ensure that our services support GDPR compliance and we comply with applicable laws and regulations, including the California Consumer Privacy Act (CCPA).

The program has a high standard for admission and testing which includes adherence to IASIU’s code of ethics.

CNA is a common and early type of lead followed by an investigator and is the act of connecting a person's name to a accurate Address location. Pipl lets you follow hunches and speeds your investigation tasks. It quickly exposes new directions to 1) quickly locate persons of interest 2) uncover associations between people, addresses, phones and social handles 3) determine the credibility of sources, witnesses or suspects 4) track changes in historical online and offline identity information 5) connect personal, professional, and social information.

When testing cards, fraudsters make multiple low-value purchases to stealthily avoid having the orders flagged by fraud scoring tools. Not-for-Profit sites are often targeted because giving an online donation does not require a shipping address, and because fraudsters know nonprofits are unlikely to have top notch fraud detection safeguards in place.

This payment method is convenient for customers and essential to online retailers — but it’s also vulnerable to fraud. Global Fraud Prevention providers and merchants know from testing that Pipl’s unmatched breadth and depth of public identity information lowers risk, lifts their approval rates and cuts their losses to fraud and chargebacks. All while giving their customers a friendly, frictionless, and instantly gratifying experience.

The typical shopping cart abandonment rate for online retailers varies between 60% and 80%, with an average of 67.91%. It is claimed that the best optimized checkout process has an abandonment rate of 20%. To achieve such optimization, Pipl data is often used to streamline the Identity Verification process (a major contributor to customer friction) once an order is placed.

Online seduction and blackmail are used to acquire personal information such as credit card numbers, social security numbers, or home addresses, among others.

The ACFE organization is a provider of anti-fraud education and training. CFE training includes teaching about information on difficult financial transactions and appreciating forensic approaches, regulation, and deciding on claims of fraud.

Maintaining a chain of custody is essential for team members working on a specific criminal case. The documentation of evidence is key for maintaining a chain of custody because everything that is done to the piece of evidence must be listed and whoever came in contact with that piece of evidence is accountable for what happens to it. This prevents police officers and other law officials from contaminating the evidence or taking the piece of evidence.

The chargeback mechanism exists primarily for consumer protection. Holders of credit cards issued in the United States are afforded reversal rights by the Truth in Lending Act. United States debit card holders are guaranteed reversal rights by the Electronic Fund Transfer Act. Similar rights extend globally, pursuant to the rules established by the corresponding card association or bank network. A consumer may initiate a chargeback by contacting their issuing bank and filing a substantiated complaint regarding one or more debit items on their statement. The threat of forced reversal of funds provides merchants with an incentive to provide quality products, helpful customer service, and timely refunds as appropriate.

Currently, both Visa and MasterCard require all merchants to maintain no more than 1% of dollar volume processed to be chargebacks. If the percentage goes above, there are penalties starting at $5,000 – $25,000 charged to the merchant's processing bank and ultimately passed on to the merchant. In all cases, a chargeback will cost the merchant the chargeback fee, typically $15–$30, plus the cost of the transaction and the amount processed. Pipl data plays an important role in reducing merchant chargeback losses in both automated (API) and manual review (SEARCH) approaches.

For superior investigation of Chargeback Fraud, Pipl’s identity resolution engine accurately clusters a vast array of hard-to-connect identity information not found by standard research tools. With well structured reports, important facts are front and center so CBF investigators can quickly dig into details all on one page or use shortcuts to jump to social media accounts and web links.

A typical chargeback insurance policy will only cover losses on credit card transactions purchased through its own specific payment processor or payment gateway. While chargeback insurance can help cover losses, like any insurance there are pros and cons. While some fraud protection services charge a flat-rate fee per transaction (typically 0.5 to 15 cents per transaction), vendors who offer chargeback insurance usually charge a percentage-based fee of 0.5% to 1.5% which can be cost-prohibitive for larger transactions.

Most credit card companies require that chargeback ratios be less than 1 percent; after 1 percent, merchants may be placed in a “excessive chargeback” monitoring program where they pay additional fines and fees until they are able to get the chargeback ratio decreased to an acceptable percentage. If a merchant is unable to reduce their chargeback ratio, it may lose processing privileges altogether.

This information can be used to open bank accounts and credit cards in a child's name, or help someone secure a mortgage, a job, or government and health benefits. Criminals are more likely to capitalize on kids’ data. Among notified breach victims last year, 39 percent of minors became victims of fraud, versus 19 percent of adults, according to Javelin. While adults make prime targets for their account balances, the “blank slate” a child provides can enable a criminal to do more damage by opening new lines of credit before someone catches on.

There are various types of public records that are available to the general public. Some of your information that could be considered public record includes: Civil and Vital Records, Birth and Death, Marriage & Divorce Records, Lien and Judgment Records, Criminal Records, Court Records, Government Records, Bankruptcy Records, Driving and Traffic Records, Phone and Address Information, Naturalization and Immigration Records.

The Insurance Industry Glossary defines “claimant” as “The party making a claim under an insurance policy. The claimant may be the insured. Under liability policies, the claimant is a third party.” No matter which definition you use, a “claimant” is somebody making a claim – not somebody against whom a claim will be made. Upon filing a lawsuit, the claimant becomes a plaintiff, but the terms are often used interchangeably.

Activities typically extend to include the following elements 1) Verify an insurance policy exists for the insured person and/or property. In general, these are written by the policy-holding insurance company. 2) Risk(s) of loss(es), or damages to property, culminating in the loss of property and or bodily injury. 3) After completing the above investigations, evaluate the covered injuries and/or damages that have been determined according to the coverage grants. 4) Negotiate a settlement according to the applicable law(s), and identify coverages for which the insured is covered, following best insurance practices.

This can be done by sharing baited content on social media, having people click back to the source of the content, where the fraudster then tries to attack them.

Services such as "Burnerapp.com" allow users to obtain and manage additional phone numbers for voice, SMS, and MMS communications, Burner lets users get as many numbers as they want to use each as a private line on an iPhone or Android phone, and keep numbers indefinitely or 'burn' numbers they no longer need.

Then, the fraudster creates fake materials that falsely confirm that that first transaction went through, when in reality it didn't. In short, a fake deposit (or other transaction) is falsely confirmed as having gone through by a fake confirmation, so as to cover up the fact that the first transaction was actually fraudulent.

This term applies to both card-not-present transactions as well as in-person transactions. Pipl offers uniquely powerful identity data and verification tools so you can confidently approve, deny or escalate transactions. That’s why Pipl is the first choice whenever the world's top ecommerce and financial services companies must confirm that a person is who they claim to be.