Socure, a leader in AI-driven identity verification, fraud prevention, and sanctions screening, has announced the launch of its groundbreaking Identity Manipulation Risk Score—the industry’s first cross-sector predictive risk score designed to stop repeat first-party fraud before it escalates.
This AI-powered innovation is integrated into Sigma First-Party Fraud, Socure’s advanced fraud detection solution. By analyzing vast amounts of cross-industry fraud data, including dispute histories, payment denials, and account closures, Socure provides businesses with real-time risk intelligence to detect fraudulent activities at critical points—such as account opening, transactions, and dispute resolution.
A Breakthrough in First-Party Fraud Prevention
First-party fraud—where individuals misuse their own identity to commit fraud—costs businesses over $100 billion annually. Unlike third-party fraud, which involves stolen or synthetic identities, first-party fraudsters use their real credentials, making detection more challenging.
A 2024 survey by Socure revealed that 49% of first-party fraudsters admitted to reoffending because they had successfully evaded detection the previous year. This growing pattern of repeat fraud highlights the urgent need for advanced fraud prevention solutions.
How Identity Manipulation Risk Score Works
With Socure’s Identity Manipulation Risk Score, organizations can now:
- Identify fraud risks early by detecting identity manipulation behaviors, such as using multiple emails or phone numbers to deceive businesses.
- Leverage real-time insights from 210M+ contributed identities, 325M+ accounts, and 20B+ transactions to detect suspicious activity.
- Predict and prevent fraud before financial losses occur.
Why This AI-Powered Solution Stands Out
Sigma First-Party Fraud’s Identity Manipulation Risk Score is built on Socure’s proprietary AI technology and the largest first-party fraud intelligence network in the industry. Key features include:
- AI-Powered Predictive Risk Scoring – The first cross-industry risk score to quantify identity manipulation in real time.
- Consortium-Driven Intelligence – Aggregated fraud data from banks, fintechs, BNPL, gaming, and eCommerce for unparalleled accuracy.
- Real-Time Risk Monitoring – Instant alerts when an identity’s risk profile changes, allowing proactive fraud prevention.
- Adaptive Machine Learning – Continuously evolving AI models improve detection accuracy and minimize false positives.
“Identity manipulation is the key factor in first-party fraud, yet most fraud prevention tools fail to detect it,” said Ori Snir, Head of Product Management, Fraud and Identity Solutions at Socure. “Our new AI-powered risk score gives businesses the ability to detect and stop fraud before losses occur.”
Setting a New Standard for Fraud Prevention
As fraud tactics evolve, traditional fraud detection methods struggle to keep up. Socure’s Sigma First-Party Fraud solution provides a powerful new layer of protection, helping businesses:
✔️ Detect and prevent first-party fraud risks early
✔️ Minimize financial losses and operational costs
✔️ Reduce false positives for a smoother customer experience
The Identity Manipulation Risk Score is now available as part of Sigma First-Party Fraud through Socure’s RiskOS™ platform and API integrations.
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