In this informative case study, we put our collective 70+ years of fraud prevention experience into helping a national retailer prevent a pervasive type of fraud that was costing them $35,000-$40,000 per month. You will just how damaging this type of fraud is, how quickly it can spread, and how we managed to prevent loan fraud from continuing to be a problem for this retailer.
This case study will help you understand how to fight fraud in the most effective means possible: through prevention.
A national retailer had a successful in-store credit program that was being plagued by loan application fraud. They discovered that they were losing $35,000-$40,000 per month to this type of fraud alone.
The FraudFighter team worked to put together a plan of action using identity authentication machines - namely, the ID-150 - for a pilot program.
After seeing that the pilot program achieve ROI within 30 days, a full-scale fraud prevention program was enacted. Within just 4 months, the retailer saw an over 90% reduction in loan fraud.