Use Cases

In the competitive landscape of India's education sector, various forms of examination fraud persist that easily exploit vulnerabilities in the system. In the past month, alleged paper leaks and manipulated marks in national-level exams have put the futures of 3.5 million aspirants at risk. Understanding these methods is crucial to comprehending the issue's magnitude and devising effective solutions.

Banking, eCommerce, and gaming companies with less stringent identity verification processes usually fall prey to the damages caused by new account fraud. These fraudulent accounts can cause direct damages to targeted businesses or can lay the foundation for a larger, more elaborate fraud that happens much later. Read about new account fraud and how we can prevent it here.

Social engineering tactics do not employ simple viruses or account takeovers. In most instances, the owner of the financial asset gives out the information to fraudsters or completes their financial requests. We explore how human emotions are manipulated using psychological power play in our latest blog. Read to know more about social engineering and how to mitigate its impact.

Traditional age verification methods are inadequate in the face of rising fraud tactics. Additionally, these are too invasive, causing unnecessary friction and abandonment during onboarding. An age verification software that takes a risk-based approach is a more intelligent, dynamic solution that can tailor verification processes to the specific risk level of each user interaction.

When “fake” AI-generated identities are used to commit financial crimes by targeting financial institutions, government agencies, and businesses, it is called synthetic identity fraud. Data breaches and the dark web provide the raw materials while blending and manipulating data ensure these synthetic identities can pass various forms of scrutiny, making this type of fraud one of the hardest to detect and prevent in the global financial ecosystem!

The types of fraud victims fall prey to differ from stage to stage in a customer journey. If identity thefts are common during onboarding, payment-related frauds like credential stuffing are common during the transaction stage. Here’s a walkthrough of the different types of fraud that you can see as you move through the customer journey. (Bonus: We also tell you the specific signals that help detect fraud)