Experian sets out anti-fraud tools
Experian's Hunter can now look across cases to find links
Information company Experian has improved its Hunter anti-fraud software to help banks and other financial services firms keep track of fraud.
Users can now group several applications into a single case, allowing the investigation of all related applications to check whether they are linked to earlier instances of fraud.
The aim is to prioritise potentially dishonest claims based on the risk and outcome of previous related applications. Those that pose a significantly higher threat are highlighted by Hunter. Where users identify a possible fraudulent application, they can now capture more detailed information including the type of fraud and the potential loss if the request were to be accepted.
The Hunter tool has also been built to make it easier for applications to be managed; applications can be assigned to a specific user with a target date for completion and associated tasks can be allocated, diarised and managed.
“Fraudulent activity against financial service providers remains a significant risk, impacting balance sheets and customers’ pockets,” said Nick Mothershaw, UK director of identity and fraud at Experian. “By identifying fraud at point of application, organisations can act quickly to prevent fraudsters from realising any material gains.”
In November 2012, the so-called ‘Eurograbber’ attack used malware to target the PCs and mobile handsets of users, carrying out automatic transfers that varied from €500 to €250,000, according to research by security vendors Check Point and Versafe. The malware included a bot attack known as the Zeus Trojan or Zitmo, which infected computers and mobile devices and enabled the hackers to intercept and steal the SMS messages sent by banks to their customers.
