Application Fraud – Is your first line of defence strong enough?

Most Communication Service Providers are horrified when they check to see how many expensive smartphones they have shipped through their subsidy programs have not been connected to their network. Safe to say that the perpetrators who managed to get hold of these handsets managed so despite the defences put in place by the service providers. We can guess the fate of those fraudulent accounts and the worst part is that it doesn’t stop there. Fraudsters always come back for more because they now know how easy it is to get hold of a shiny new iPhone or a credit card for virtually nothing.

In our experience, working with some of the leading communication service providers, we notice that most in house systems or application fraud controls remain stagnant after the initial rush of ideas and, albeit very effective at the initial stages of detection, the controls soon go out of date as the updates are fewer and far between. As the saying goes, you are only as strong as your weakest link, and so it goes with your application fraud controls. One small exploitation in the application verification process can no doubt lead to exponential losses.

Here is where we think our Application Fraud system, Atreus, can help. We developed this as a commercial product seeing that there isn’t quite something like this out there or the ones that are already available are way too complex and expensive for most service providers. If you are looking for a straightforward system that doesn’t cost an arm, then you ought to give Atreus a try.

Atreus employs complex mathematical and fuzzy models to make connections that in house controls would not, such as checking email address, bank accounts and contact numbers; these are usually the most consistent information given in fraudulent connections. Not to leave out the vast array of name and address variations that these fraudsters are adept at conjuring to bypass the fairly rudimentary credit checking systems. Atreus application fraud matching and scoring models are continuously updated to remain relevant and improve disparate connections between new and past applicants and fraud data.

Atreus Application Fraud system comes with a real time RESTful API that can allow existing systems (e.g. point of sale systems and online store systems) to connect to the Atreus search engine seamlessly and provide an instant Accept, Reject or Refer decision. Where there are back office teams, Atreus offers a search interface to do live searches against the fraud database. No matter what your application process is, Atreus can fit into your architecture snugly.

Atreus is platform agnostic as is industry agnostic. Wherever there is an application to be filled and verified for new products or services, Atreus Application Fraud tool can help. Drop us a line to to book a demo.

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