See how we can help your organisation to prevent scams while providing a seamless customer experience
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Online fraudsters are constantly adapting and innovating their attacks to remain effective, yet online fraud prevention continues to rely heavily on device-related intelligence.
In today’s increasingly sophisticated cybercrime landscape, should fraud prevention continue to rely on device reputation?
No! To understand why, let’s look at scams.
Scams, also known as Authorised Push Payment Fraud, often involve a victim sending money to a scammer from their own, trusted device – so relying on device reputation alone is not going to help prevent the millions of pounds lost to scams in the UK. In fact, in 2020 alone, there was over £400 million lost to APP Fraud in the UK – and this number only threatens to get bigger, as fraudsters shift and evolve attacks to better dupe their scam victims.
You need a 360° view of digital identity risk – combining physical, digital and behavioural data attributes.
At LexisNexis® Risk Solutions, we build a 360° customer view with deep analysis of behaviour at the customer level, analysing hundreds of attributes and drawing upon capabilities like behavioral biometrics, email intelligence, industry consortia and phone intelligence.
What’s more, all of this is underpinned by our Digital Identity Network, built from crowdsourced intelligence of over 55 billion global transactions annually, including logins, payments, and new account creations. This provides unique insight into global digital identities, across applications, devices and networks.
This means we can consistently identify a person irrespective of changes in their devices, locations or behaviour. Not only does this help enhance fraud detection, but our intelligence also helps reliably recognise the same returning user behind multiple devices, email addresses, physical addresses and account names.
So, no matter the device they use, we can reliably distinguish between the genuine and the fraudulent – all as the transaction occurs.
See how a 360° view of your customers can transform your fraud detection processes.
Book a free, no-obligation consultion to find out more.
LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit risk.lexisnexis.co.uk and relx.com.
