ClickCease
Fraud Prevention

Stop fraud in real time

Let more good customers in while reducing fraud and risk. Leverage real-time risk and behavioral signals with a strong identity binding process that simultaneously deters fraudsters and protects your customers’ data.

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Balance risk mitigation

Balance security/risk mitigation with a frictionless, non-invasive consumer experience.

Deter and prevent fraudulent activity

Confidently manage and persist consumer identities at every point of interaction so you know exactly who you are transacting with.

Reduce costly manual reviews

Leverage real-time risk signals and identity checks to make immediate informed decisions, without costly manual reviews and intervention.

Trusted by the world’s leading companies

Fraud vectors and Prove capabilities

The Prove Pre-Fill® and the Prove Identity® identity verification solutions are capable of minimizing multiple types of fraud while also maximizing consumer pass rates. Whereas, Prove’s “PRO Model℠” APIs (Possession, Reputation, Ownership℠) can protect against specific fraud scenarios.

Fraud Attack Scenarios
Fraud Type
Identity Theft
First-party Fraud
Bot Attacks
Physical Theft of Phone
Phone Takeover
Synthetic Identities
Account Opening
Account Takeover
Coverage by Prove Offering
Fraud Type
Identity Theft
First-party Fraud
Bot Attacks
Physical Theft of Phone
Phone Takeover
Synthetic Identities
Prove Auth®
Trust Score®
Trust Score+
Identity Verify℠
Prove Pre-Fill® /
Prove Identity®

Frictionless fraud prevention at every interaction

Evolving fraud techniques call for modern solutions. From fraud at account opening to account takeover, take a holistic approach to protecting your customers and your bottom line. Leverage Prove’s comprehensive suite of identity solutions to drive growth while stopping fraud in its tracks.

Identity Theft

Deceptive practices involving the use of someone else's personal information to commit financial or other crimes.

Solutions

Prove Auth® can prevent identity theft (true name) fraud by confirming that the attacker is not the rightful owner nor in possession of the victim's phone (physical device) during the transaction.

Trust Score® will be able to detect that the phone is not held by the victim by evaluating carrier signals in real time such as the SIM, device, and carrier tenure.

Identity Verify℠ verifies consumer identity by establishing that a consumer owns and operates a given phone number based on the consumer’s name, address, and additional attributes.

Identity Theft Solution

First-party Fraud

Fraudulent activities committed by individuals against a financial institution using their own identity or accounts.

Solution

Prove Auth® can produce detailed evidence that will discourage first-party fraud: "This transaction took place on your iPhone 12 at this time and day", essentially a 'digital watermark.'

First-party Fraud Solution

Bot Attacks

Automated programs or scripts attempting to manipulate online systems, often used for fraudulent activities like fake account creation or DDoS attacks.

Solutions

Prove Auth® prevents Bot Attacks by confirming proof of possession of each phone number used by an end consumer.

Identity Verify℠ provides phone ownership status to confirm the identity of a consumer is linked to a specific phone number.  Bots are unable to prove possession of a mobile number (e.g., as required by Mobile Auth℠, Instant Link℠ and SMS Delivery) at the same rate they can submit forms with scripts, effectively neutralizing the threat.

Bot Attacks Solution

Physical Theft of Phone

Unauthorized possession of a mobile device, potentially leading to identity theft or unauthorized access to sensitive information.

Solution

Trust Score® and Trust Score+ will be able to detect that the phone is not held by the victim because the victim would have reported their phone lost/stolen and the carrier would have disconnected the phone number, which Prove will detect via a near real-time line status check.

Physical Theft of Phone Solution

Phone Takeover

Illegitimate transfer of a victim’s phone number through a SIM swap or port attack, often used to gain unauthorized access to accounts linked to that number.

Solutions

Trust Score+ will detect when a victim's phone number is taken over through a SIM swap or port attack. Prove identifies SIM swaps by evaluating the SIM tenure associated with a phone number and significantly reduces the Trust Score of phone numbers with a recent SIM change.

Prove Auth® uses an on-device key, therefore a phone takeover attack will initiate from a new phone where the key is not present, which will trigger a new bind event, at which point Trust Score+ will pick up the SIM swap or port event. For SIM swap coverage, data comes directly from mobile network operators (MNOs) and requires consumer consent.

Phone Takeover Solution

Synthetic Identities

Creation of a fictitious identity by combining real and fake information to establish fraudulent accounts or transactions.

Solution

Identity Verify℠ can detect synthetic identities in banking and credit reporting agency (CRA) systems that do not have corresponding synthetic data in the phone companies. Identity Verify℠ also identifies identities which have manipulated or fictitious personal information (e.g., multiple social security numbers or dates of birth).

Synthetic Identities Solutions

Prove Identity Network®

Prove Identity Network®: ingests 30B annual authentication events from PRO (possession, reputation, ownership) checks. This enables greater accuracy over time by boosting assurance levels for offerings like the Prove Pre-Fill® solution, thus verifying more good actors while reducing fraud. Prove Identity Network® also allows persistence of identities across channels and throughout the customer lifecycle which enables a better customer experience.

Onboard more businesses, faster

Differentiators

The PRO Model℠ enables a strong identity bind and enables identity to persist
  • High identity confidence enables customers to self-serve high risk transactions (change addresses in-app vs. calling call center).
  • The PRO Model℠ enables strength in True Name / Identity Theft Fraud.
Frictionless identity proofing
  • Legacy approaches are high-friction (e.g. use out of wallet, doc scans, information validation).
  • Prove has a cryptographic authenticator that we can tie to the process (the Prove Identity® solution, the Prove Pre-Fill® solution) enabling low-friction.
Near real-time MNO verification
  • Identify SIM swaps and port events at the speed of fraud.
  • Enables accurate (cryptographic) possession check (passively or actively).

Recommended resources

Combating Crypto Fraud
Blog
Why Banks Must Fortify Identity-Proofing to Combat Crypto Fraud
Prove Identity's 2023 Online Shopping and AI-Based Fraud Report
Blog
2023 Online Shopping Report Shows 84% of Consumers Are Concerned About AI-Based Fraud This Holiday Season
AI in banking
Blog
Navigating the AI-Driven Future in Banking: Fraud, Digital Trust, and Identity Verification
Case Study
How fiVISION enables its clients to streamline onboarding, reducing account opening time and fraud with Prove
Case Study
Spark Wallet successfully eliminates bot fraud while streamlining onboarding