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SolutionsSocure's versatile identity verification solutions tackle a wide spectrum of challenges, from onboarding and beyond.
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ProductsFraud & RiskComplianceID + BiometricAccount IntelligenceExplore the future of identity verification and trust with our comprehensive suite of AI-powered products.Fraud & RiskComplianceID + BiometricAccount IntelligenceSigma Identity Fraudfor the most accurate third-party fraud detection leveraging a 360° view of digital identityPhone RiskScoreto instantly predict risk and verify phone ownershipSigma Synthetic Fraudfor uncovering complex manipulated and fabricated synthetic identity fraudAddress RiskScoreto instantly predict the risk connected with physical addressesSigma First-Party Fraudfor minimizing early payment default, bad faith dispute abuse, and chargeback lossesDigital Intelligencefor passively verifying user devices behavioral biometrics to to detect fraud and improve UXEmail RiskScoreto instantly predict risk and verify email ownershipGraph Intelligenceto quickly transform complex identity connections into actionable insightsPortfolio Scrubreveal compliance and fraud risks in your existing customer accountseCBSVfor instantly verifying a consumer-provided name-DOB-SSN match with the SSASocure Verify Plusfor precise, accurate, and inclusive identity verificationGlobal Watchlist Screening with Monitoringfor sanctions screening, PEP, and adverse media risk managementDeceased Checkfor validating deceased identities at any point in the user lifecyclePredictive DocVfor quick and accurate ID document and biometric verification with liveness detectionSocure Acccount IntelligenceVerify bank account ownership and status with inclusive, instant resultsGet customized strategies from our experts to drive your success. Start now.Get a Demo
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Public SectorExplore public sectorSocure empowers governments to combat identity fraud while ensuring equitable access to public services. Our AI-driven platform delivers unparalleled accuracy in identity verification, helping agencies stop fraudsters without compromising access for underserved populations.
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ResourcesExplore resourcesDive into Socure's resource center to access expert insights on identity verification and fraud prevention through eBooks, reports, articles, infographics, and our blog. Stay ahead with innovative strategies from industry leaders.
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Customer Pollination Fraud
Customer Pollination Fraud
Customer Pollination Fraud in the context of credit card fraud refers to a technique used by fraudsters to build up credit histories for multiple synthetic identities. A synthetic identity is a fictitious identity created by combining real and fake information. Customer Pollination Fraud occurs when a synthetic identity that has built up a positive credit history adds other synthetic identities as authorized users to its financial accounts, allowing those additional profiles to also build positive credit histories.
While this technique may seem like a quick and easy way to improve credit scores, it is important to understand that it is illegal and fraudulent.
How does customer pollination fraud work?
Customer Pollination Fraud fraud typically starts with the creation of a synthetic identity, which is then used to apply for credit. Later on, the synthetic identity builds up a positive credit history by making on-time payments and keeping balances low. Once the synthetic identity has established a good credit history, it adds other synthetic identities as authorized users to its financial accounts, allowing those additional profiles to also build positive credit histories. This process is repeated multiple times, creating a network of interconnected synthetic identities with strong credit histories.
Legal and financial consequences of customer pollination fraud
Customer Pollination Fraud fraud is illegal and can result in severe legal and financial penalties. Anyone caught engaging in Customer Pollination Fraud can face criminal charges and be subject to heavy fines and imprisonment.
Additionally, those who are victims of customer pollination fraud may suffer from damaged credit scores and financial losses.
How to avoid customer pollination fraud
The best way to avoid customer pollination fraud is to be vigilant and monitor your credit report regularly. If you notice any unauthorized activity on your credit report, you should report it immediately to the credit bureau and the appropriate authorities. Moreover, it is important to avoid engaging in any illegal or fraudulent activities that could lead to customer pollination fraud.
How does Customer Pollination Fraud happen?
Customer Pollination Fraud occurs when a synthetic identity that has built up a positive credit history adds other synthetic identities as authorized users to its financial accounts. This technique can be challenging to detect, as it involves the use of multiple synthetic identities and authorized users across a few financial institutions. The fraudster may create multiple synthetic identities and use them as authorized users on the same account, allowing all of the identities to build up a positive credit history. Alternatively, the fraudster may use the same synthetic identity as an authorized user on multiple accounts, allowing the identity to build up a positive credit history across many financial institutions.
What is synthetic identity?
A synthetic identity in credit card fraud is a fictitious identity created by combining real and fake information. The fraudster may use a real Social Security number (SSN) and combine it with a fake name, birthdate, and address to create a new identity that does not belong to a real person. Alternatively, the fraudster may use a combination of real and fake information to create an entirely new identity.
What is synthetic identity theft?
Synthetic identity theft in credit card fraud is the use of a fictitious identity to obtain credit, loans, and other financial services. The fraudster may create a synthetic identity by combining real and fake information, establish a credit history for the identity, and then use the identity to apply for credit cards, loans, and other financial services. Synthetic identity theft is a significant problem for financial institutions, and it is estimated to cost billions of dollars each year.
Other terms related to customer pollination fraud
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