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At afoundational level, it’s a question of data. Today, it’s imperative for banks to access and analyze identification data on bust-out fraud perpetrators. Often, bust-out fraud slips under their radar since perpetrators’ behavior looks very much like that of normal applicants and accounts. But the real question is, how can banks best access identity data on criminals, and get the most out of it?
This paper answers that question with a general discussion of today’s bust-out fraud problem and a description of FICO® Identity Resolution Engine. It addresses how FICO’s latest fraud solution, through five key areas of functionality, gives banks a newfound power to access critical data sources—to easily and quickly uncover criminals and criminal rings, and significantly reduce direct and indirect losses from bust-out fraud.