Identity Fraud, Crime of the Century? In 2008, the Federal Trade Commission received approximately 1.2 million fraud-related consumer complaints, 26% of which were related to identity theft.

Each year, hundreds of thousands of Americans are traumatized by identity theft, which is among the most insidious and personally violating crimes in our society. The advent of the Digital Age and our increased reliance on electronic means of transacting business have made us increasingly more susceptible to perpetrators of all types. Identity fraud is not a new crime, but the fertile ground for fraudsters has migrated from the dumpster to the database. It has become far too common to hear about yet another security breach that occurs at a bank, a retailer, a university or data aggregator. The question facing corporations and the government is how to stop or reduce the damage caused to their reputations, their bottom lines and, more importantly, their customers

Our Identity Fraud Detection solutions utilize an analytic approach to determine the risk to an identity.

We provide these solutions primarily in our consumer applications, which gives an individual visibility over where their identity is being used, how it is being used and for what purpose. Our monitoring product, IDAlert™ scans literally billions of identity records from various sources and the internet and applies an analytic approach that distinguishes this from any other monitoring service. Simply searching for personal information in public records and credit bureaus is not enough. The scammers are way too smart and our 360 degree approach is measurably more valuable than any other in the market today.

Our Analytic solutions employ a robust searching and scoring set of algorithms that yield a risk score to determine the risk of an identity.

Our risk score, which is essentially a confidence score, is called the Identity Quotient Index™ (IQI™). The IQI™ is the core functionality in our IDScreen™ product and is utilized by risk managers or anyone involved in a corporate credentialing process to determine the level of risk associated with an identity. It is no longer enough to rely on a de facto authentication simply by running a credit report or background check. The risk of this identity to your organization can carry a heavy toll and using IDScreen™ at the front-end of the credentialing process can enhance and augment every other step in the security chain.

Our IDAlert™ product detects subsequent abuses in light of new identity record feeds to the reference database of identity records and alerts either the consumer or Edentify’s client based on our client’s wishes.

As with automobiles, identities are usually modified, damaged or used to commit a crime once they are stolen. By continuously monitoring information related to a specific identity, the owner of that identity or Edentify’s client can be immediately notified if it has been compromised. As identity fraud usually precedes other types of fraud (such as credit card fraud), this type of proactive alert system is critical to mitigating the extensive, and expensive, damage perpetrated after an identity is stolen and manipulated. Given the considerable lag between when an identity is compromised and when that event is discovered, this service is a critical component of Edentify’s services in defense against identity fraud.

To augment our very unique and effective data analysis fraud detection technology, we will soon be offering an equally groundbreaking biometric solution from InMotion Biometrics (IMB), a wholly owned subsidiary of Edentify, Inc.

This solution, an integral part of the Authentication process in the security continuum, combines a robust inner lip analysis technology with existing voice and facial recognition technologies to create a multi-modal, spoof-proof biometric solution.

Edentify seeks to combine these technologies to develop an integrated product that combines our information-based identity manipulation detection capability with IMB’s biometric technology, thereby enabling a foolproof enrollment and subsequent ID protection system.