Equifax Launches Fraud Prevention Platform

Equifax has launched a fraud prevention solution powered by advanced analytics and rich data sources. FraudIQ Manager is a cloud-based platform that offers seamless integration into customer application processes to mitigate risk in real time and prevent future fraud losses. The platform leverages Equifax’s FraudIQ Exchange which consists of multi-sector fraud data that is also used by financial institutions, telecom companies, and auto companies. The exchange provides fraud data and analytics which is used to evolve and adapt in real time. Fraud rates across Canada were up 33.4 per cent compared to last year, with credit card, mortgage, and auto industries hit the hardest.