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For example, this process looks to establish there is a person such as Jane Smith and that she has the corresponding attributes such as date of birth and/or socialsecurity number. Enrollment. Enrollment of other factors, such as a voice biometric, can be done as the account is opened.
The fact remains that the very data that is readily available across all conduits of transactions – from phone numbers to SocialSecurity numbers – are there for the taking, across all manner of firms, and can be used as building blocks to create sophisticated ways to defraud the innocent. The former has been around for a long time.
Customer behaviors must be analyzed to detect such problems, which often involves applying machine learning-enhanced tools to evaluate collected customer data for signs that might indicate accounttakeovers or shifts into illicit activity, Davies said. How To Quickly Fight KYC Fraud.
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