Business and Consumer Identity Scores
Identity scoring was originally developed for use by financial services firms, to measure the fraud risk for new customers opening accounts. Typical external credit and fraud checks often fail to detect erroneous background information.
Identity scoring is also being tested as a means for financial institutions to comply with criminal investigations and antiterrorism measures such as the Bank Secrecy Act (BSA) and the USA PATRIOT Act. Usage of fraud verification tools and third-party authentication systems to verify identities and “red flag” suspicious activity is greatly enhanced by identity scoring.
Read more about this topic: Identity Score
Famous quotes containing the words business, consumer, identity and/or scores:
“Do not craze yourself with thinking, but go about your business anywhere.”
—Ralph Waldo Emerson (1803–1882)
“The poverty of our century is unlike that of any other. It is not, as poverty was before, the result of natural scarcity, but of a set of priorities imposed upon the rest of the world by the rich. Consequently, the modern poor are not pitied ... but written off as trash. The twentieth-century consumer economy has produced the first culture for which a beggar is a reminder of nothing.”
—John Berger (b. 1926)
“No other group in America has so had their identity socialized out of existence as have black women.... When black people are talked about the focus tends to be on black men; and when women are talked about the focus tends to be on white women.”
—bell hooks (b. c. 1955)
“What is it then between us?
What is the count of the scores or hundreds of years between us?
Whatever it is, it avails not—distance avails not, and
place avails not,”
—Walt Whitman (1819–1892)