SAN DIEGO-ID Analytics Inc. released the ID Score, an advanced technology designed to prevent loss due to identity theft and related fraud, common problems in the telecom sector. The pattern recognition technology solution was developed as a result of research ID Analytics conducted with 13 consumer companies representative of various industries.
“As a result of this cross-industry effort and our work with the law enforcement community, we’ve gained astounding insights into the behavior of identity thieves, recognizing incredibly consistent patterns of activity across the board,” explained Bruce Hansen, ID Analytics’ chief executive officer. “For instance, the typical identity thief initiates the crime by defrauding a mobile-phone provider and moves from there to establishing any number of fraudulent accounts with credit card companies, retailers and so on. Ultimately an accomplished ‘fraudster’ can bring in hundreds of thousands of dollars in 12 to 18 months’ time. Until now, these behavioral patterns have gone undetected.”
