Solution – Prevent Financial Fraud
THE PROBLEM
Stolen Financial Information Is Used to Commit Fraud
Malicious actors use phishing, skimming and card-not-present fraud schemes to collect financial and personal information from individuals. This information is then sold on the criminal underground. A stolen identity can be used by multiple malicious actors to commit credit card fraud, to open new bank accounts and to apply for loans.
The solution
A Directory of Financial Fraud Victims
Flare Systems has compiled a directory of financial fraud victims, based on leaks on the dark, deep and clear web, as well as on identities for sale on illicit markets. Personally Identifiable Information (PII) is then enriched by the collaboration with a network of financial institutions. This enables our partners to check if their customers have been victims of fraud, while ensuring information privacy protection.
WHY IS IT IMPORTANT
Prevent Identity Fraud
Identity fraud is one of the least reported crimes which results in a high dark figure that limits preventive measures.
Why Choose Firework
The Collaborative Fraud Prevention Platform
Collaborative platform
By working together in Flare Systems’ network, financial institutions gain access to previously unavailable data about fraud victims in Canada.
data protection
Flare Systems’ technology protects victim information while enabling financial institutions to detect if their customers have been defrauded.
privacy
Flare Systems respects all Canadian and international privacy regulations.
