Uncover Suspicious Activity Among Millions Of Records and Billons of Transactions

Fraud detection and prevention has never been more critical than today. It is estimated that identity theft alone results in billions of dollars of losses each year to individuals and businesses. The insurance and healthcare industries alike must deal with altered billing or falsified claims, with costs running into the tens of billions. The financial services sector must try to deal with money laundering and related crimes. And beyond these costs, failure to comply with evolving government regulations can cost an organization in large fines and harm its reputation.

But effective anti-fraud measures depend on the ability to quickly and accurately identify individuals. . .and the connections between individuals. And that's where many organizations stumble. They can't be confident their systems won't miss a critical match because identity information is simply subject to too many variations and errors—from typos to foreign versions of names, not to mention individuals deliberately masking their identity. And the challenges are simply getting tougher:

  • Ever-changing compliance mandates and policies
  • Conflicting and disparate data sources
  • Balancing resources, risk, and returns
  • Increasing volume and sources of watch-lists and enterprise data

Put another way, the challenge is to create a fraud detection system that can accurately track all the ways an individual interacts with the company in order to spot suspicious transactions.

The Informatica solution for identity resolution in fraud detection and prevention uncovers and manages potential fraud by individuals and groups attempting to mask, hide, or misrepresent their identities. It is used to search, find, match, and group identity data quickly and accurately, regardless of structure, format, location, duplication, omissions, or errors. The Informatica solution for identity resolution in fraud detection and prevention can help to:

  • Manage risk, detect fraud, and ensure compliance with regulations against money laundering and other economic and trade sanction laws, such as Basel II, Anti-Terrorist Financing, and those enforced by the Unified Crimes Elimination Network, Financial Crimes Enforcement Network, and Office of Foreign Assets Control
  • Maintain governance, risk, and compliance processes by supplying the business with reliable, high-quality master and reference data