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04-24-2024, 09:09 AM #1
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- May 2022
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- 91
That's not why the fraud occurs. If the Driver's License or SSN being provided don't match the background report that's usually enough to pause or kill the file. The issue is the Driver's License and SSN match the background report, but the person you're speaking to is not that person. The only way to minimize fraud is to ensure the merchant is calling from the same last known telephone number on the background report and that the caller's voice sounds like the gender and age of the person that is applying. The problem with THAT is that a lot of brokers will get frustrated at you killing a file for the person calling from the wrong number or the voice sounding off. A lot of brokers think that is an insignificant reason to kill a file, even though it's one of the only ways for funders to minimize the chances they are speaking to a fraudster.
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04-24-2024, 12:04 PM #2
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- Oct 2013
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- Designer
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- 597
Anti fraud measures I’ve seen that appeared to be pretty effective, were asking mostly non-invasive questions About their past, with answers only they would know:
-Telling names of a family member or loved one
-Knowing previous 1 or 2 previous addresses you lived at
-Knowing the name and color, and year make and model, of your first purchased car, and the year you purchased it
-Telling the year you were married
-Telling the hospital you were born in
-High school attended
Most con artists are lazy and don’t bother taking the time to do that research. Pros are a different story, but they’d be putting their talents to bigger scores than this.
www.UccRadar.com – Large sales volume merchants filling out your application.
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04-24-2024, 01:05 PM #3
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- Nov 2021
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- 4
Walter has been doing this since 1991.
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04-24-2024, 01:54 PM #4
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- Aug 2020
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- 148
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04-26-2024, 09:23 AM #5
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- May 2022
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04-26-2024, 10:04 AM #6
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- Dec 2021
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- 214
There are links that can be sent to the phone number and a selfie has to be taken, (you have to smile to make sure it's not just a picture as well). I'm pretty sure plaid does this if not plenty of other companies. When you complete Crypto KYC, they typically do this sort of verification.
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04-26-2024, 10:59 AM #7
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- May 2022
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04-26-2024, 12:34 PM #8
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- Dec 2021
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04-26-2024, 01:42 PM #9
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- May 2022
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