EE rolls out ID checker to fight online fraud

Friday 17 July 2020 14:19 CET | News

UK-based network operator EE has launched a new Digital Identity platform to protect customers from fraud.

According to Telemedia Online, the platform verifies, through a series of checks, a customer’s identity in real time, helping to prevent identity theft and fraudulent activities. One of the recurring frauds that EE’s Digital Identity platform fights is SIM swap fraud – an account takeover where a customer’s phone number is transferred without the account holder’s knowledge. Accordingly, a fraudster can intercept messages or calls to the phone number and gain unauthorised access to online accounts.

Therefore, EE’s Digital Identity ‘SIM Swap’ checker comes to enable businesses to know when a customer’s SIM was last changed, as a recent change could indicate potential fraud. Afterwards, the information is used with banking partners to stop financial transactions taking place until further identity checks are carried out. 

Moreover, the platform helps prevent fraudulent online account sign ups with its ‘Know Your Customer’ (KYC) product. This allows businesses to cross-check new customer data with data held in the EE databases and see if a phone has been reported lost or stolen.

Overall, with millions of online transactions taking place every month, new approaches to fraud protection are needed, as a total of GBP 824.8 million was lost due to unauthorised financial fraud in 2019, Telemedia Online reported.

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Keywords: UK, EE, digital identity platform, fraud prevention, identity theft, SIM swap fraud, account takeover, SIM swap, Know Your Customer, KYC, online transactions, unauthorised financial fraud
Categories: Fraud & Financial Crime
Countries: United Kingdom
This article is part of category

Fraud & Financial Crime

Industry Events