Instantly detect fraudulent bank accounts
Identify invalid contact information like email, phone, and physical address as well as suspicious behaviors
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As ACH network transaction volumes continue to surge and real-time payments grow in popularity, the complexity of transactions also increases. This dynamic environment underscores the critical importance of implementing a robust and detailed fraud prevention solution.
vFraud detects high frequency changes in consumer contact information, flagging invalid contact details like phone numbers and email addresses, while analyzing the association to a provided bank account.
Our comprehensive solution utilizes risk indicators to:
- Detect high-frequency changes in Personally Identifiable Information (PII)
- Filter and flag invalid or fraudulent contact information like email addresses and phone numbers
- Check for past inquiries utilizing velocity metrics
vFraud
Using specific contact application fields and bank account number, vFraud assesses the connections between the bank account, consumer, and past payment performance to detect fraud instantly. Analysis findings using vFraud discovered:
- 3+ phone numbers in the past 30 days resulted in 70.5% increase in risk
- 3+ SSN's for a provided bank account in the past 90 days resulted in 59.5% increase in risk
- 5+ bank accounts in the past 90 days resulted in 59.3% increase in risk
- 3+ email addresses in the past 30 days resulted in 58.2% increase in risk
The value for your business
Bank Account Insights
Access unique bank and payment data to analyze characteristics, behaviors, and patterns associated with high-risk indicators
Flag Suspicious Information
Identify fraudulent instances like first party fraud, new account fraud, and minimize financial losses
Reduce Risk
Reduce risk of paying or sending funds to fraudulent accounts
Related resources
Related products
vAccount
Pair with vFraud and confirm a bank account is valid, open and ACH capable to ensure Nacha WEB debit compliance with added fraud protection.
vAccount +
Pair with vFraud to validate accounts and reveal critical insights on payment performance and fraud.
vCredit
Assess ability to pay based on inquiries, payment behavior, and payment performance leveraging our alternative FCRA-compliant score.
Frequently asked questions
vFraud doesn’t just assess individual elements like the consumer for suspicious indicators, but rather the connections between the consumer, bank account, and their past payment performance for a more robust assessment. This allows you to detect fraud instantly before its too late.
vFraud leverages proprietary and partner insights from within ValidiFI’s data network to perform various fraud checks to validate customer contact inputs like phone number and email addresses. This offers increased confidence in what your customer is providing is legitimate and accurate to help detect and reduce fraudulent attacks.
vFraud can help detect fraud instantly by assessing suspicious indicators related to consumer, bank accounts or payments. Most common types include first-party fraud, third-party fraud, synthetic fraud, and new account fraud.
Yes, all customers are required to report their performance data as we are a give-to-get data model. By doing this, all customers gain tremendous value from accessing a much larger database of information than they would without data contribution across the network.
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