Fraud Detection

Latest Posts

Global Fraud Offers Lessons for Protecting COVID-19 Relief Programs

In order to provide over $600 billion of timely capital to businesses affected by COVID-19, the Small Business Administration (SBA) needed to supercharge its processing of loan applications. As it increased throughput by nearly three orders of magnitude, the SBA…

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Online Lending Fraud: Loan Stacking

In 2015, a TransUnion study of lenders in the FinTech industry found that loan stacking represented $39 million of $497 million in charge-offs. At the same time, the number of borrowers engaged in loan stacking doubled between 2013 and 2015. …

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Account Takeover: What Online Lenders Should Know

Over the last half decade, rates of account takeover have multiplied significantly. According to a report, account takeovers jumped 300% in 2017, and have been rising ever since. The trend was particularly pronounced in the lending space. Lenders lost $4 billion…

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Loan Application Fraud: Identifying Fraudulent Documents

Many online lenders ask borrowers to upload bank statements, pay stubs, tax forms, and other financials to assess creditworthiness. While the broad majority of borrowers who submit financials are legitimate applicants, some do submit documents that are altered or…

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Identity Fraud: What Online Lenders Need to Know

Identity fraud is a pervasive and rapidly growing form of online lending fraud. Lenders lost over $6 billion from synthetic identity fraud alone in 2016. As data breaches of personal information continue to rise, the problem is only expected to grow. In 2018,…

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The Real Cost of Online Lending Fraud

The below blog post first appeared on According to a study by Experian, 63% of businesses experienced the same or more fraud losses in 2018, with a plurality of 33% experiencing higher losses. In online lending, the trend was particularly…

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