ID Analytics Secures Patent for Detection of Fraud Rings

New System Can Identify Thousands of Fraud Rings and Aid in
Prevention of Future Identity Fraud

Analytics®, LLC
, a leader in consumer risk management, today
announced the U.S. Patent and Trademark Office granted the issuance of
U.S. Patent Number 9,280,658 for the company’s system and method for the
systematic detection of fraud rings. This patent recognizes ID
Analytics’ unique method for identifying groups of interconnected
fraudsters. The detection of fraud rings can help to prevent future
fraud and aid law enforcement in criminal investigations.

A study
conducted by ID Analytics in 2012 found there are more than 10,000
identity fraud rings in the U.S. Identity fraud occurs when a person
intentionally uses false personally identifiable information (PII) such
as names, addresses and Social Security Numbers, to improperly obtain
goods and services. A fraud ring is an organized group of two or more
people who collaborate to commit identity fraud. These people may engage
in a variety of fraudulent behaviors including forgery, filing false
claims, identity stealing, identity manipulation and counterfeiting
checks or currencies, among others. Working together, these groups of
individuals are able to make more money, better elude detection, aid one
another with logistics and carry out more diverse strategies for
committing fraud.

The patent covers a technique for the detection of rings of identity
fraud by gathering a group of likely fraudsters and looking for
interconnections. When these interconnections are strong, there are
likely fraud
. The system harnesses the power of ID Analytics’ ID
®, one of the nation’s largest networks of cross-industry
consumer behavioral data.

“This automated approach to detecting fraud rings is an important
milestone in understanding and mitigating identity fraud. Rather than
performing manual spot checks and poring through vast amounts of data,
with limited effectiveness, this system enables us to efficiently
identify thousands of fraud rings,” said Dr. Stephen Coggeshall, chief
analytics and science officer, ID Analytics. “The addition of this
patent enhances our portfolio of patents for fraud detection and is a
testament to the unique effectiveness of the ID Network.”

About ID Analytics, LLC

ID Analytics is a leader in consumer risk management with patented
analytics, proven expertise, and real-time insight into consumer
behavior. By combining proprietary data from the ID
—one of the nation’s largest networks of
cross-industry consumer behavioral data—with advanced science, ID
Analytics provides in-depth visibility into identity risk and
creditworthiness. Every day, many of the largest U.S. companies and
critical government agencies rely on ID Analytics to make risk-based
decisions that enhance revenue, reduce fraud, drive cost savings, and
protect consumers. ID Analytics is a wholly-owned subsidiary of LifeLock,
 please visit us at

ID Analytics, and ID Network are registered trademarks of ID
Analytics, LLC. All other trademarks and registered trademarks are the
property of their respective holders.


MSLGROUP for ID Analytics, LLC
Jennifer Asaro / Chris Poisson