ID Analytics today released the results of an extensive study of identity fraud.
The knowledge gained through this research, combined with new advanced technology, led to the development of ID Analytics’ ID Score, which assesses the legitimacy of identity information provided by individuals at the point of application, before credit, debit or new accounts are granted. Underlying the ID Score is a pioneering pattern recognition technology called Graph Theoretic Anomaly Detection˙ (GTAD˙), which has a patent pending. GTAD dynamically detects unusual patterns based on the identity data elements on an application. Today, the ID Score is being used by some of the nation’s largest credit card, retail card, wireless and online instant credit companies, daily helping to detect hundreds of frauds and saving many thousands of dollars in losses.