Fraudsters trying to take over an identity or phishing for information may attempt to verify the same details multiple times or subtly change details for each attempt.
By employing the Velocity Assessment, you can be alerted on suspicious behaviour based on the number of associated transactions for an individual over a predefined time period.
- The velocity triggers are configurable to match your organisation's expected usage
- It's an excellent early warning detector of fraudulent behaviour
How it Works
By providing an individual’s personal details such as name and date of birth, the Velocity Assessment feature counts how many times those details have passed through the system over a given period of time.
Any time a record is flagged above the configured velocity thresholds, results are fed back into the Fraud Assessment framework to be considered as part of your overall IDMatrix result.