Fraudsters often play the role of a shape-shifting phantom, piecing together bits of personal information from various sources to create synthetic identities. They take over accounts, perform other malicious acts, and then vanish as quickly as they appeared, leaving behind remnants of their destruction.
Fraudsters are relentless and ever-evolving. Luckily, so is your team when leveraging iovation’s fraud prevention tools to their fullest potential.
Our new email and phone number verification service gives you more insight per transaction, all within our robust FraudForce Device-Based Reputation. Providing additional vectors to detect fraud, email and phone number verification can reduce your risk and protect your organization without adding friction for your good customers.
What’s in an Email?
A new email address is a key indicator of fraud. In fact, 32% of new email addresses are used for fraudulent transactions. We can positively identify 96.5% of all email addresses submitted to our system and will provide the date when our system first encountered this address. Flag potential risk on any transaction even if it’s coming from a new account or device.
Beyond the age of the email, our service provides a unique and valuable normalization tool to thwart fraudsters attempting to avoid detection by using special characters in their email address. You can learn if the email is valid, how frequently it appears on sites across the network, and how popular it is on those sites. Taken altogether, these email characteristics give your team valuable insights to distinguish between active VIP customers and the suspicious behavior of fraudsters.
The Power of a Phone Number
Anomalous behaviors of phone numbers should also raise a red flag for potential risk. The Phone Number Risk Score takes into account several indicators including previous fraudulent activity and other attributes such as carrier, SMS capability, and phone type.
The Phone Number Risk Score also detects odd traffic patterns. For example, if a single phone number requests a passcode in five different languages within the same week, this may indicate that the phone is being shared. Velocities can also flag suspicious behavior, such as a particular number or range of numbers showing up repeatedly on one or more web services within a relatively short time frame.
Protection at Critical Transaction Points
Identify the risk associated with an email or phone number to add an extra layer of insight at critical points.
- Account origination: New emails are commonly used for synthetic identity fraud. Assess the risk of submitted email and phone fields at account creation to distinguish the deceptive fraudsters from your good customers.
- Account management: Account takeover attacks frequently attempt to change key contact fields. Check the phone or email details on an account before any account changes are made.
- Checkout: Shipping fraud and payment fraud attacks commonly use new email addresses and burner phone numbers. Evaluate the risk of the email or phone number at checkout, especially on guest purchases.
One Vendor. One API.
Unlock all of this data within FraudForce Device-Based Reputation without any need for additional integration or resources. Email and phone verification is a new add-on feature that feeds into the same API that is already gathering device data for fraud detection, giving you comprehensive fraud detection with a single vendor and a single API.
Centralize your fraud detection, refine your ability to recognize fraud, and expedite the acquisition of valuable new customer accounts.
 Based on TransUnion’s experience with North American customers.