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Intellicheck Blog


  • Dark Horse Intelligence is a global investigation agency with extensive experience in combating identity theft in both the traditional and cryptocurrency sectors. Their agency, which also includes Recover My Crypto and Gaslamp Quarter Investigation, services law enforcement, legal, corporate, and financial communities around the world, leveraging a highly proficient team of skilled investigators and fraud examiners. 

    Intellicheck’s quick and accurate ID validation platform has proven to be an integral part of  helping Dark Horse Intelligence reduce the risk of manual errors, trim hours off of internal processing, and put their focus back on the security of their clients. 

  • Traditional identity fraud–fraud involving the theft and subsequent misuse of personal identity information–accounted for roughly $13 billion in losses last year alone. Not only has fraud not slowed down it appears to be ramping up. 

    Gone are the days in which static information or even dynamic information alone can be used to safeguard customers' accounts and funds. The reality is, identity fraud continues to be more and more difficult to detect. 

  • According to recent reports, fraud-related losses for businesses in the US was roughly $11 billion in 2020. This number is expected to grow in size thanks to the ongoing Covid-19 pandemic. 

    Credit application fraud is key fraud trend. Banks and financial institutions of all types are estimated to be burdened with application fraud loss that account for as much as 10% of all of their bad debts. On average, these kinds of debts cost $1,000 each. 

  • Fraud affects both businesses and individuals alike, albeit in different ways. Businesses are battling strong increases in both in-store and online-only fraud attempts in an effort to maintain profitability. For individuals, the threat fraud poses to their credit scores and financial health can be equally harrowing.

  • Advances in technology often attendant risks as fraudsters find ways to take advantage of new developments. Fraudsters navigate the many new avenues technology opens up for them just as readily as businesses and consumers do. In this way, greater profit potential and heightened efficiency obtained through tech adoption within your organization can be a double-edged sword.

    Protecting your company from fraud as it adapts to technological shifts and emerging market trends comes down to keeping your security tooling as up-to-date as the rest of your IT infrastructure. Here are four payment systems and the risks that come with them. 

  • Identity fraud can threaten most types of businesses, and automotive dealerships are also at risk. Auto lenders and dealers who are successfully duped by fraudsters sporting fake identity documents can suffer tremendous losses in a very short span of time. In fact, synthetic fraud in automotive managed to top $1 billion in balances throughout the second quarter of 2019.

    Taking preventative measures against automotive ID fraud is crucial for any dealership, but first you have to know what you’re up against.

  • In 2020, credit card fraud was the second most common type of identity theft with nearly 400,00 cases reported. Stolen credit card data, including a victim's CVV number, is easily obtained for as little as $5 on the dark web. This number balloons past $100 for personal identifying information that can be leveraged to open brand new accounts. 

    Credit card companies cannot afford to turn a blind eye to the inherent risks posed by fraudsters leveraging stolen identities which is why they must seek out solutions. Five out of the top ten credit card issuers trust Intellicheck to curb credit card criminality while speeding up onboarding for legitimate clients. Here’s why.

  • Almost every business is excited about catching a fake ID… mostly.

    On the one hand, catching a fake ID is a possible crime stopped as well as an opportunity to avoid a fine. In catching that ID, some businesses might even want to celebrate. On the other hand, a fake ID itself is a window into fraud waiting to happen leading some businesses to be more contemplative.

    As the creators of a solution that catches most every fake ID that you will encounter, we fall on the excited side. We are so excited, in fact, that we are sponsoring a competition to highlight the fake IDs our customers are catching - see here for more details. However, we are not so excited that we want you to do the wrong thing with the fake IDs that you catch.

    Below, you’ll find a list of US states and where they fall in allowing a business to confiscate an ID. Please take a look to make sure you are in compliance, and click on the links to get more detail.

    The data provided and linked in the following sections was found on ServSafe.com.

  • The onboarding process for financial institutions is twofold–attracting: the right customers and complying with know your customer (KYC) rules. 

    Attracting the wrong kinds of customers costs your company more than you might suspect. Often enough, a dodgy churn rate can be traced back to a marketing misfire–when customers are attracted using the wrong incentives, they are more likely to bolt when another business presents them with a better incentive.

    Compliance is equally important as the consequences for non-compliance can prove disastrous for many businesses. Besides the immediate threat of a steep fine or imprisonment, your business's reputation can be irreparably damaged when money laundering or funding illicit activities occur under your brand.

  • The primary purpose of ID verification is to know who is on the other end of each transaction. While identity verification has been a must in many industries for some time, the advent of the Internet has brought new layers of complexity into view that threaten to render existing ID management and validation approaches obsolete.

    For businesses, in particular, digital ID verification goes beyond validating participants in transactions–it allows companies to comply with the kinds of regulations that are beginning to take shape around the world as well as improve security and user satisfaction along the way. Bottom line: ID verification will soon play an even more essential role in everyday transactions.

  • Stopping payment fraud is no small feat, but has to be done in order to safeguard your business. Statistics show that more than a third of Americans have had their identity stolen and have been victims of credit card fraud. 

    With card-not-present fraud outpacing point of sale fraud, it’s increasingly important for payment processing companies to stay ahead of the game. Here are three risks all payment process companies face.

  • Fraud assessments are special tests designed to discover your business's current fraud risks. Vulnerabilities of all types must be carefully analyzed and, ultimately, addressed for a complete fraud assessment to work as intended. That’s why it’s important for both internal and external risks to be considered. 

    Professionals in this sphere not only help in identifying existing risks to your organization but also assist in crafting an effective roadmap for responding to such risks, however, if you aim to tackle a fraud assessment on your own, the following checklist is a great start:

  • 3 Steps To Effective KYC Compliance

    All financial services companies need a KYC or "know your customer" program. 

    KYC compliance goes beyond keeping your company's legality in the clear; effective KYC processes produce favorable results such as helping curbing fraud risks, preserving your company's reputation, and avoiding costly fines and sanctions.

    For financial service providers and a growing assortment of fintech industry participants, effective KYC compliance can be the difference between growing market share and shutting down for good. 

    Taking appropriate steps to learn more about your company's customers, including their reasons for transacting with you and the amount of risk their transactions may present for your business, helps keep your company out of hot water. 

  • The risks account takeovers pose to consumers are significant, but those they pose to businesses are equally so. For customers of companies whose services involve some degree of data custodianship, an account takeover can result in their private information being exposed to nefarious third parties. For merchants, such attacks can put their brand's performance at risk and jeopardize the trust customers have in them, leading to account abandonment and more.

    Protecting both your business and customers means staying ahead of fraudulent activity such as account takeovers. Here are the top statistics that can help you understand what you are up against.

  • The online gaming and esports community has grown to shocking heights in recent years, topping 1 billion in individual streamers per month in 2020. In fact, online gaming has become one of the largest sports in the world in terms of viewership and universities are now even offering full-ride scholarships for their Esport teams. With popularity and widespread adoption continuing to soar, so have the dollars generated. Revenue produced by online gamers hit $159 billion in 2020 and is projected to exceed $200 billion by 2023. While a booming gaming industry opens many doors for businesses, it also spells trouble in the form of growing fraud threats.

    With online gaming's ascendancy comes a flood of fraudsters looking to take advantage of the industry's low payment barriers and wide access to sensitive information. Cloud accessibility and a lack of know-your-customer (KYC) implementations make gaming platforms particularly vulnerable to a variety of fraudulent schemes. Some established services even allow savvy fraudsters to trade in-game currencies for real-world funds, putting a price tag on account takeovers and similar threats. Mitigating fraud in online gaming requires powerful solutions and comprehensive planning.

  • With the expanding legalization of marijuana for recreational use, the industry is growing at a rapid pace. Because marijuana businesses are still considered relatively new to the business world and because cannabis is still a regulated product in all states, these new companies are under a microscope to ensure compliance. 

  • As much as 61% of all fraud that occurs in the U.S. is actually traceable back to call centers. Gaps in proper verification methods for inquiring customers can make call centers a fertile space for fraud to take root and wreak havoc. In fact, call center losses have continued to increase from $393M in 2015 to $775M in 2020.

    Stopping such a sudden influx of fraudulent calls from overrunning a mission-critical call center starts with understanding how it happens in the first place.

  • Throughout 2020, the cannabis industry saw significant growth. In Colorado alone, sales jumped 26 percent, reaching $2.2 billion by the year's end. This substantial increase coupled with positive projections for the industry’s future has led many to launch their own cannabis business. While success may seem imminent, ensuring you’re fully prepared to take on fraud attempts is especially crucial as allowing it can lead to major legal and financial consequences. 

    If you’ve recently opened a Cannabis business or are in the process of creating a dispensary business plan compliance and risk mitigation should be made a priority. Here, we discuss why and how to make regulatory compliance an easy feat.