USE CASE | DETECT FRAUD RINGS

NeuroID identifies behavior specific to fraud rings and bots

58% of companies have experience a security incident in the last 12 months. All that compromised personal information ends up in the hands of organized fraud rings. They might be able to fool traditional security checks, but behavior can’t be duped.

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Organized “fraud startups” are opening accounts en masse with compromised PII.

58

%

of companies have had a breach in the past 12 months.

60.5

%

In the past 3 years digital fraud in financial services is up more than 60 percent.

>

30

K

Potential fraud rings operating in the world

$

200

M

Amount stolen by a New York fraud ring in 2017 in a credit card application scheme

NeuroID detects a fraud ring every week

Fraud rings are constantly testing for vulnerabilities. You might have a reassuringly consistent level of fraud attempts, then out of nowhere get hit by an aggressive fraud ring that blitzes in to overwhelm your system. And it’s never a one-and-done: fraud rings rinse-and-repeat. As soon as they find a weakness, they’ll double down and squeeze it as long as they can.

Fraud rings are fast, frequent, and furtive, and the ringleaders know how to cover their tracks. While the type of fraud ring attack varies based on the target industry, the tell-tale signs are always there for those who know what to look for.

Fraud rings strike across all industries

NeuroID has detected fraud rings across Buy Now Pay Laters, top banks, leading fintech companies, insuretechs, and many more financial service companies.

Understanding fraud ring behavior is the difference between being proactive instead of reactive

Intercept fraudsters at the point of attack

NeuroID’s real-time decisioning capabilities enhance identity verification platforms and processes. Step up fraudsters to stringent steps and protect your business.

Get actionable, bird’s eyes view of fraud ring behavior

Detect behavior across all applicants and automatically filter those tied to fraud ring indicators through real-time fraud ring alerts.