Defend against Synthetic Identity fraud - Ekata, a Mastercard company
Ekata is part of the Mastercard family. Ekata's solutions provide the most predictive and frictionless identity verification.

Ekata is part of the Mastercard family. Ekata's solutions provide the most predictive and frictionless identity verification.

Defend yourself against synthetic identity fraud with Pro Insight

Pro Insight is the modern technology to combat Synthetic Identity Fraud.

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Synthetic identity fraud is one of the main threats to ecommerce and financial services. The sophisticated nature of combining factual and fabricated aspects of identities to create new, fraudulent personas defies traditional detection methods. As this new type of fraud has evolved, it’s become necessary that fraud detection technologies advance to match this threat.

Pro Insight provides manual review agents with the data and information to detect fraud quickly, preventing damage. The data and information include real-time risk assessment, positive and negative signals and a global Identity Risk Score; empowering manual review agents to assess transactions and detect discrepancies confidently. With the ability to track a complete view of identity data, agents use that information to make fully informed decisions about fraud. This whole picture reduces false positives and ensures accuracy. Maintaining more accurate checks and data gives good customers a better overall experience.

Agents use Pro Insight’s integrated network risk assessment to delve into particular patterns in different identity elements. Noticing patterns that a specific type of identity element follows, for instance, a pattern found in real IP addresses, allows agents to pinpoint synthetic identity fraud when it doesn’t follow the regular pattern. Our comprehensive approach equips businesses with precise tools to avoid synthetic identity fraud, strengthen security, create more efficiency and uphold customer satisfaction.

Understanding synthetic identity fraud

Synthetic identity fraud is a newer and unique form of identity theft. Instead of either making up a fictional identity or entirely stealing another person’s identity, a synthetic identity is a combination of false and stolen information to create a unique identity and use it for fraud. Fraudsters combine real names with fabricated addresses and fake social security numbers to create a synthetic identity. The combination of real and fake is challenging to detect. The main goal of using a synthetic identity is establishing a seemingly legitimate credit history over time to exploit by accessing credit, loans, and other financial services and then disappearing once the financial gain is complete.

what is synthetic identity

Like all types of digital theft, synthetic identity fraud is continually evolving. To stay up-to-date in fighting this fraud, it’s essential to employ advanced tools. Pro Insight constantly adapts and updates technology to stay ahead of criminal tactics and stop theft before it occurs.

Fraudsters create synthetic identity theft in multiple ways. The first way is commonly known as piggybacking. A person or entity attaches a fake identity to a legitimate account and gradually builds a credit history. The next way fraudsters create a synthetic identity is through data furnishing, where they submit fabricated data to credit bureaus to generate credit profiles over time. The bust-out-fraud method occurs when a synthetic identity establishes credit, and then the credit lines are maxed out, at which time the synthetic identity vanishes. Then there is the tried and true identity merging, where a fraudster combines real and fake information to create a brand new identity used for fraudulent activity.

The first step towards a synthetic identity fraud solution is obtaining a robust identity verification system. The sophisticated nature of synthetic identity creation often exploits the intricacies of data systems in the credit process.

By leveraging data science and machine learning, Pro Insight offers a comprehensive approach to the challenge of synthetic identity fraud that works at the same level of complexity and sophistication as the fraud itself.

How Pro Insight works against synthetic identity fraud

A dynamic and advanced solution empowering businesses to fight synthetic identity fraud.

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The Identity Engine is the powerhouse fueling the battle against the evolving world of online fraud. By using the Identity Graph and Identity Network, Pro Insight integrates two exclusive datasets for critical analysis and information. Built around crucial identity attributes, these two datasets utilize characteristics such as name, email, phone, physical address and IP address.

Using machine learning, data science and real-time signals creates an Identity Risk Score for each transaction, allowing businesses to act on a potential threat.

The unique perspective of Pro Insight analyzes the usage patterns of identity elements in digital interactions. The complete view of identity information pinpoints patterns associated with synthetic identities.

Strengthening your defenses

Comprehensive identity insights: The comprehensive perspective on identity data provided by Pro Insight allows businesses to make informed transaction decisions. The Identity Engine creates a real-time Identity Risk Score with positive and negative signals allowing businesses and institutions reduce false positives and detect fraudulent activity.

Network risk assessment: By going beyond individual data points and analyzing usage patterns of identity elements, Pro Insight goes beyond traditional methods. This system does not simply notice identity information by understanding how it’s utilized, but also by pinpointing patterns of synthetic identity fraud.

Efficiency in manual reviews: Pro Insight streamlines the decision-making process for manual review agents by highlighting critical data indicators that then contribute to the Identity Risk Score. Agents use this tool to accurately and confidently assess risk levels.

Seamless integration: A smooth integration with existing workflows allows Pro Insights to minimize challenges and disruptions to operations. Rather than overhauling existing fraud prevention infrastructures, businesses can efficiently integrate Pro Insights into their current systems.

Reduced false positives: False positives create a headache for businesses and pain points for customers. The advanced analytics of Pro Insight ensures that legitimate transactions aren’t unnecessarily flagged. The sharper approach provided by Pro Insight improves customer satisfaction without allowing fraudulent activity to pass through.

Enhanced customer trust: News of data leaks regularly scare the general public and stop customers from trusting brands. Pro Insight effectively mitigates synthetic identity fraud, allowing customers to maintain trust in your business. Companies and institutions committed to protecting their customers’ identities and data keep and build a loyal client base.

What success looks like using Pro Insight

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FanDuel case study

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Want more information on synthetic identity and synthetic identity fraud?

Check out our resources:

Synthetic identity theft:

Upgrading your identity verification toolbox.
View e-book

Biometrics for identity verification


How a probabilistic approach to KYC mitigates synthetic identity fraud.
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What is synthetic identity

Synthetic identity theft:

The ultimate guide to detecting and preventing synthetic identity theft.
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Synthetic identity fraud continues to proliferate and threaten digital commerce. Innovative and evolving technology is necessary for businesses to succeed in our current online environment. Pro Insight offers businesses a comprehensive and dynamic approach to combating synthetic identity fraud. The sophisticated nature of this threat demands a sophisticated response, and Pro Insight delivers just that.

Engaging the strength of the Identity Engine, Pro Insight leverages exclusive datasets and algorithms focusing on essential identity attributes. Empowering manual review agents with real-time risk assessment, positive and negative signals and a global Identity Risk Score enables them to swiftly and confidently detect fraudulent activity. Integrating Pro Insight’s network risk assessment adds another layer of precision, allowing agents to identify subtle patterns in identity elements that signal synthetic identity fraud.

The ramifications of not fortifying your fraud prevention strategies cannot be overstated. The alarming rise in synthetic identity fraud cases and staggering projected losses make this an urgent issue for all businesses and institutions. Pro Insight offers a solution that enhances existing fraud prevention strategies and strengthens customer trust. Reduced false positives and efficient manual review processes improve customer experience while meticulously identifying fraudulent activities safeguard your brand’s reputation.

Are you prepared to defend your business against synthetic identity fraud? The time to act is now. Take the step that could make all the difference in protecting your business, customers and future.

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