FRESNO, Calif., Jan. 21, 2019 /PRNewswire/ -- Credit Bureau Connection (CBC), the industry leader of credit reports, compliance solutions, alternative credit data, and soft pull products, announces a new Synthetic Identity Fraud prevention solution. An additional set of identity fraud detection tools created to detect and prevent this new, rapidly increasing form of fraud.
Synthetic Identity Fraud differs from tradition identity theft in that the perpetrator creates a new synthetic identity versus stealing an existing identity. Understanding what synthetic identity fraud is, is the first step in detecting it.
Synthetic Identity Fraud differs from tradition identity theft in that the perpetrator creates a new synthetic identity versus stealing an existing identity. Understanding what synthetic identity fraud is, is the first step in detecting it. CBC uses proprietary logic that unmasks how thieves create synthetic profiles and have developed an in-depth and effective way to thwart Synthetic Identity Fraud by distinguishing a fraudster from a legitimate customer at the beginning of the sales process.
CBC's Synthetic Identity Fraud detection solution compliments the current suite of fraud detection tools available with CBC's eCredit Complete software. By adding this new advanced level of fraud detection, we can identify potential threats that may not be detected using traditional fraud detection methods.
CBC utilizes industry-leading technology consisting of over 40 different risk-related elements that are used to create synthetic fraud credit profiles and delivers an easily detectable Synthetic Identity Fraud score that is very effective in detecting those synthetic identities that are established and approaching the maturity level necessary to perpetrate fraud.
"Early detection of potential Synthetic Identity Fraud is paramount to its success. We have added synthetic fraud detection to our industry-leading ID Theft/Red Flags Rule compliance to deliver a one-of-a-kind solution our customers have come to expect," says Mike Green President/CEO Credit Bureau Connection.
The Synthetic Identity Fraud solution is available as an add-on to Credit Bureau Connection's Advanced Red Flags compliance suite. For more information, contact: 800.448.0183
About Credit Bureau Connection (CBC)
Credit Bureau Connection is the leader in credit reports, compliance management, and consumer prequalification solutions for automotive, motorcycle, power sports, and RV dealers; along with a vast network of lenders, brokers, and integrated software partners throughout the automotive industry. CBC provides traditional and non-traditional credit report products along with soft-pull credit reports, consumer-facing web credit application tools, and compliance services. CBC sets the standard with superior customer service, fully responsive cross-platform software, comprehensive data security, and the best up-time service levels available. CBC's forward-thinking business and technology approach is the driving factor in the companies' substantial growth year after year for over a decade.