Automotive-based businesses need to improve their identity verification procedures and ensure the safety of consumer data to prepare for the upcoming holiday season and because of the controversy of the Uber data breach. There are various safety measures that companies can implement to protect against fraudsters.
EVS’ product suite can help a company whether they provide vehicle rental, rent-to-own merchandise and more. Four products that can assist automotive companies in processing transactions, avoiding high-risk transactions and remaining compliant with federal regulations include driver’s license verification, consumer data-match profiling, an authentic question generator and individual fraud scoring.
The Driver’s License Verification compares and matches key data points to verify a consumer’s identity. This tool is highly customizable and can used separately or be implemented into an existing website
Consumer Data-Match Profiling helps businesses take more than 100 potential data points to build a risk profile of customers, applicants and more. The product can speed up transaction time and avoid fraudulent applications, which portray a company as safer and efficient.
The Authentic Question Generator is an antifraud barrier that asks verification questions. The questions generated would be difficult to answer by going through an individual’s wallet or their online presence.
Individual Fraud Scoring gives an overview of issues that could indicate a person’s fraud risk. The scoring is based on any data conflicts with the information on file.
Rental car companies or transportation companies all have risks. The risks range from a fraudster compromising the information of one customer to large scale like Uber’s May 2014 breach. Recent allegations are claiming that everyone from an employee at Lyft to a disgruntled Uber employee could have been the fraudster that illegally downloaded 50,000 of Uber drivers’ names and license numbers. Although it is unclear who infiltrated the Uber network, this is a strong reminder for businesses to protect data, educate employees and have safeguard guidelines and requirements.