Synthetic fraud is the most recent cybercriminal activity that has become the fastest-growing financial crime. Data Safeguard’s™ AI/ML-based Synthetic Fraud product counters Frankenstein Identity theft, automatically tracks identity and flag transaction inconsistencies that indicate fraudulent activities such as unauthorized transaction card purchases, and other verticals where ID verifications play an important role in the transaction process.
ID-AML is an AI/ML product suite that intelligently detects and identifies risk within a company’s data ecosystem that supports their Customer Information Program (CIP), Know Your Customer (KYC), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and High Risk Customer Analysis (HRCA) programs.
ID-Fraud is our flagship product to counter Synthetic Fraud. The product’s advanced features built using AI/ML technology classifies, identifies, confirm, and report on real customers vs Frankenstein Identities that try to get a credit card, auto loan, boat loan, or personal loan using fake personally identifiable information.