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Patterns are constantly evolving (1)

Synthetic Identity Fraud Patterns are Constantly Evolving — No Industry is Safe

As consumers grow their digital footprints across devices, channels, and geographies, differentiating malicious synthetic behavior from that of good consumers is harder than ever. Traditional rules-based systems and third-party fraud solutions fall short in solving this pervasive fraud.

Without the benefits of a consortium network, your fraud investigation team has a limited ability to identify tricky elements of synthetic identity fraud, exposing your business and customers to unnecessary risk.

The Socure Difference

Socure’s powerful AI has been trained for more than a decade on 400+ third-party data sources and cross-industry network feedback from 2,400+ customers that fight fraud together. The world’s largest organizations in financial services, government, gaming, e-commerce, and other industries lean on Socure’s Sigma Synthetic Fraud solution to proactively identify risk and protect their businesses — in real time.

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Employ proactive identity fraud detection

Predict and prevent synthetic fraud before it happens to avoid financial losses

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Improve user experience

Reduce false positives and boost user satisfaction with quick and reliable approvals

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Open more good accounts

Drive revenue growth by auto approving more good customers faster

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Lower operational costs

Reduce manual reviews and operational expenses with a fully automated solution

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Prevent reputational damage

Avoid enforcement action and fake account prosecution

Solution Highlights

Target fabricated and manipulated identities

Target fabricated and manipulated identities

The Sigma Synthetic Fraud model applies the Federal Reserve’s definition of synthetic identity fraud which focuses on “manipulated” and “fabricated” types to support customers in determining the optimal follow-on treatment — without adding unnecessary friction.

Access 400+ third party data sources

Access 400+ third-party data sources

Real-time risk detection analyzes credit header, credit inquiry, proof of life, and hundreds of other data sources, combined with velocity intelligence across diverse segments to detect anomalous synthetic patterns.

Leverage a powerful consortium database

Leverage a powerful consortium database

A consortium network of more than 2,400 diverse customers enables Socure to understand identity elements and patterns to build a robust database of 2 billion good and bad identities — bolstered by 150 million outcomes added in the past year.

Outsmartsynthetics with AI that thinks like a fraudster

Outsmart synthetics with AI that thinks like a fraudster

Ingesting cleanly-labeled feedback data back into the model trains the system to think like a fraudster and accurately predicts and detects evolving synthetic fraud threats.

Calculate Sigma Synthetic Fraud Score (1)

Calculate Sigma Synthetic Fraud Score

The Sigma Synthetic model returns a predictive fraud score that gauges identity risk calculated on thousands of synthetic-specific features, linkages, and patterns.

Employ interpretable technology

Employ interpretable technology

Simple-to-understand Reason Codes with each Fraud Score provide explainable insight to empower decisioning.