Kevari in BAI: Financial Institutions Must Join Forces Against Organized Fraud

Because organized fraud rings are sharing technology, data, and insights designed to defraud financial institutions, it’s critical that banks and credit unions collaborate to defend against this growing threat.

In this article for BAI, Kevari Founder and President, Adam Elliott, explains that for financial institutions, being a part of a nationwide collaborative network is like having their own investigation unit made up of thousands of expert investigators. In the course of keeping fraud out of their own banks and credit unions, investigators benefit from – and provide benefit to – their industry peers.

For example, say an investigator, through careful and thorough research, determined that an account-opening attempt was suspected fraud. By marking the account-opening attempt, key identity (non-FCRA) elements and associated communication end points associated with this suspicious application are tagged within the system. If there is another attempt, the suspicious address, phone number, or email address will trigger a message that essentially warns all investigators in the network.

Read the full article here. Then, contact us to learn how the Kevari Fraud Investigation Network (SM) delivers the industry collaboration needed to detect and shut down fraud rings and schemes associated with new-account fraud and account takeover.


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