Frankenstein Identities & Network Analysis

Frankenstein identities, a sophisticated form of synthetic identity fraud combining real and fabricated data, pose a significant threat to financial institutions and online businesses, resulting in over $20 billion in losses for U.S. financial institutions in 2022. Traditional identity verification methods struggle to detect these identities due to their blend of legitimate and fake information, often passing initial checks and being further obscured by 'seasoning' over time. To combat this, advanced analytics such as network analysis and graph databases are essential, as they can map relationships between entities and reveal hidden connections indicative of fraudulent activity. Didit’s identity platform utilizes these technologies, offering a comprehensive fraud prevention strategy that includes real-time risk scoring, link analysis, device fingerprinting, and customizable workflows, providing businesses with the tools needed to detect and prevent credit fraud and other forms of identity-related crime effectively.

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