On 08 February 2014, we made a decision to rename the Referrals Application Fraud Management system to ATREUS. The reason behind the change was simple: to give it a unique identity so it can take a life of its own. Until now it was simply an add-in to our flagship Subscription Fraud tool, Orpheus.
Application Fraud Management, as we see it, is a powerful way to stop fraud from occurring in the first place. Anecdotal evidence suggests that fraudsters take full advantage of vulnerabilities in the application process and come back aggressively to exploit the system. If anyone is interested in controlling fraud, controlling application fraud should be the first step.
More channels have been opened up for customers to sign up for new products and services. However, the system checks have so far been lax or the risk controls poorly integrated. It is imperative that sufficient controls follow these channels to ensure that repeat offenders are not given an easy chance to walk away with shiny new phones, credit cards, insurance or personal loans.
The Atreus application has gone through four releases now since we first introduced it to the world in September 2013 and the number of users have gone up steadily during this period. Several new features have been added and new APIs are under development to integrate Atreus with store and online systems for Application Fraud detection in real time.
So, watch this space.
If you would like a demo of Atreus – Application Fraud Management, please do not hesitate to drop us a line to info@frslabs.com.
