Fraud Watch Newsletter
Point Predictive
Streamlining loan approvals for lenders with machine learning by precisely identifying truthful applications.
Welcome to the February edition of the Fraud Watch Newsletter, designed to keep you at the forefront of the latest fraud prevention strategies and insights.
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This Month's Fraud Analyst Discoveries
💳 A BorrowerCheck™️ client asked us to review a Driver's License this month, which seemed to have been issued AND expired- on the SAME date! Sometimes it's the little details that can highlight a lot.
🚔 We thwarted attempts by the so-called 'owner' of a business who submitted about 20 applications at the same dealer in the last 2 months. This individual is associated with a dozen SSNs and has a history of criminal charges involving fraud, credit card abuse, tampering with government records, and making false statements to obtain credit.
✂️ Fraud analysts found five applicants who all claimed to be the manager of the same barbershop in Georgia! According to their application history, none of them had any prior experience.
At Point Predictive, we use a unique combination of Artificial and Natural Intelligence [AI+NI] to detect fraud and automate loan decisions. In addition to our AI solutions, our Fraud Analysts conduct investigative reviews to root out fraud patterns and alert our clients.
February's Investigative Review Stats
Our Q4 Fake Employer Report is Now Available
Many fake employers are associated with loans that have 40% to 100% default rates and more than 35% of applications that used fake employers also used synthetic identities.
If you are a finance company, bank or lender, apply to access our latest Q4 Top 10 Fake Employers Report!
Recent News
Recommended by LinkedIn
Our partner GDS Link recently released this white paper: “Open Banking in 2024: A Roadmap for Emerging Trends, Technologies, and Tactics”. The white paper is your comprehensive guide into the future of open banking in the finance industry, with contributions from Point Predictive included!
Miss Any of Our 2023 Reports?
2023 marked a milestone for Point Predictive. We published an unprecedented number of reports, each filled with invaluable insights and actionable strategies for fraud prevention.
Click any of the links below to access your free copy of that report, today:
About Point Predictive
Point Predictive powers a new level of lending confidence and speed through artificial intelligence, powerful data insight from our proprietary data repository and decades of risk management expertise. The company's data and technology solutions quickly and accurately identify truthful and untruthful disclosures on loan applications.
Are you interested in learning more about how Point Predictive can help your business? Contact Us.
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