Fraud Gets Its Own Unit At Experion

Experion, the global information solutions provider, announced they have formed a separate business unit dedicated to providing leading-edge fraud prevention tools.

The company said the business unit will focus on stopping fraud at the application stage and cited as a reason figures from a Gartner report that reveal such fraud is costing the U.S. economy $35 billion annually.

Currently, the company and its new business unit offer tools such as:

An online identity verification service for transactions on the Web or through call centers.
A national fraud database that includes many participating organizations that send their own fraud records to be incorporated into the database.
A software product that compares applications against shared applicant data on file as well as analytical tools to identify inconsistencies and anomalies.
A product that detects inconsistencies at the identification level to find fraudulent Social Security numbers, addresses and phone numbers.
An Office of Foreign Assets Control (OFAC) name matching service.