Veriff launches new fraud mitigation packages

Both Fraud Protect and Fraud Intelligence use machine learning models, behavioural insights, and Veriff’s in-house fraud detection expertise, aiming to improve organisations’ ability to mitigate continuously evolving fraud attempts. Throughout the IDV process, Veriff analyses the user’s document, face biometrics, device, and network, along with previous fraud patterns.

Currently, organisations face an evolving landscape of fraud risks that compromise their business, communities, compliance efforts, and brand reputation. According to Veriff’s officials, the two packages were created to help companies eliminate fraud and maintain the security of their businesses.

Fraud Protect assists organisations in mitigating the threat of impersonation, synthetic identities, identity document fraud, velocity or bonus abuse, and multi-accounting during the remote IDV process. The package can detect advanced fraud, its industry CrossLinks feature leveraging Veriff’s network of global customers to expose fraud patterns and block repeat offenders. Moreover, through Fraud Protect, companies can access expertise and insight from Veriff’s team to identify global trends and develop prevention strategies. Tactics include proactive blocklisting of repeat offenders and geolocation to inhibit unauthorised access from a specific territory and document validation checks to mitigate tampering methods.

Fraud Intelligence builds on Fraud Protect with additional signals to minimise fraud and aid fraud operations teams to anticipate the threat landscape. Some of its key features include a consolidated view of risk to enable decision-making and prevention of previous unauthorised access. RiskScore offers an actionable numerical value based on data insights that represent the overall risk associated with an IDV session. FaceBlock Import allows organisations to integrate their blocklist to prevent repeated fraudsters and those who break community guidelines or enforce gaming self-exclusion risks.  

The company provides identity verification services to digital companies from sectors such as fintech, crypto, gaming, marketplaces, and mobility. Veriff delivers a wide identity document coverage, supporting government-issued IDS from more than 230 countries and territories.

Recently, the company announced the availability of its identity verification offering on AWS Marketplace. Customers can access the digital catalogue to find, buy, and deploy a range of software products and services developed to run on the AWS platform.

Moreover, at the end of August 2023, Griffin, a UK-based Banking-as-a-Service fintech, partnered with Veriff to offer identity and verification technology to BaaS customers. This allows fintechs to carry out biometric checks and onboard new users in an efficient and secure manner. 

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