FRAUD INVESTIGATION NETWORK

Fraudsters are Collaborating.
So Should Fraud Fighters.

With criminals collaborating to commit account takeover and new-account fraud at record levels, it will take greater collaboration within the fraud-fighting community to stop them. That’s why Kevari introduced the Fraud Investigation NetworkSM.

The Fraud Investigation Network is a first-of-its-kind consortium of frontline investigators from banks and credit unions across the country. Through the network, investigators can identify and stop fraud faster by quickly and easily accessing the investigative findings of their peers.

A critical component of the Kevari Fraud Intelligence Platform, the network enhances the reliability of fraud predictions by functioning as a feedback loop. The platform uses artificial intelligence to learn and improve by comparing initial platform inquiries to the investigative findings of frontline fraud fighters.

The Benefits of the Fraud Investigation NetworkSM

Investigative efficiency – When investigators see that a mailing address, email address, or phone number was previously dispositioned as suspected fraud, they know just where to prioritize and focus their investigations. They catch more fraud – and catch it faster.

Fewer false-positive results – Fraud assessments are more accurate and dependable because of the rich, predictive nature of the data that comes from the Fraud Investigation Network.

Less customer friction – Because there are fewer false positive results, it reduces the number of times that an investigator unnecessarily scrutinizes an honest customer or applicant.

Reduced fraud losses – Because the Fraud Investigation Network strengthens the predictive value of solutions based on the Fraud Intelligence Platform, financial services companies may be less likely to lose money, customers, and their reputation due to identity fraud incidences.

FREQUENTLY ASKED QUESTIONS

How do investigators access the Fraud Investigation Network?

The Fraud Investigation Network is a component of the Kevari Fraud Intelligence Platform. Financial services companies that use Kevari’s proprietary solutions, or those marketed by partners like Fiserv and FIS, benefit from this unique consortium of fraud investigators.

How do investigators share information?

Currently, information is shared via a cloud-based Alert Management System that is directly connected to the Kevari Fraud Intelligence Platform. When investigators complete their due diligence associated with a case and determine that a case is suspected fraud, the case is dispositioned as such in the Alert Management System. At that point, the associated address, email, and phone number are automatically populated to the Fraud Intelligence Platform.

What information is shared?

The Kevari Fraud Intelligence Platform only captures addresses, phone numbers, and email addresses that have been associated with a suspected fraud. It does not capture or share personal identifying information, such as names, SSNs, or birth dates.

How are investigators notified of addresses, emails, and phone numbers that are associated with fraud?

The Kevari Fraud Intelligence Platform scrutinizes the address, email, and phone number associated with each inquiry. If any of these profile attributes has been associated with a suspected fraud within the previous 12 months, the platform user receives an alert with a message about which profile attribute is suspicious and why.

What is the purpose of the 90-day post-inquiry monitoring?

With the way fraud rings develop over multiple institutions in a short period of time, this ongoing monitoring is absolutely necessary. If a profile attribute that the institution has previously “seen” in an inquiry has subsequently been associated with a suspected fraud, the institution is notified immediately. They will then have to decide whether to investigate and/or apply temporary account restrictions.

How does the Fraud Investigation Network enhance fraud predictions?

With the Fraud Investigation Network, the investigative determinations made by thousands of fraud investigators across the country become part of a feedback loop within the Fraud Intelligence Platform. By applying advanced machine learning, their determinations are used to enhance the predictiveness of the fraud-scoring model for all users.

How can my financial services company participate?

Please contact Kevari using the form below. We’ll get you the details you need to get started.

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