{"id":4537,"date":"2014-04-16T13:29:00","date_gmt":"2014-04-16T13:29:00","guid":{"rendered":"https:\/\/evssolutions.com\/lack-of-perfection-does-not-equal-a-call-to-inaction\/"},"modified":"2014-04-16T13:29:00","modified_gmt":"2014-04-16T13:29:00","slug":"lack-of-perfection-does-not-equal-a-call-to-inaction","status":"publish","type":"post","link":"https:\/\/evssolutions.com\/insights\/lack-of-perfection-does-not-equal-a-call-to-inaction\/","title":{"rendered":"Lack of Perfection Does not Equal a Call to Inaction"},"content":{"rendered":"<p>There has been discussion lately regarding <a href=\"https:\/\/www.electronicverificationsystems.com\/products\/knowledge-based-authentication.aspx\">dynamic&#13;<br \/>\nknowledge based authentication<\/a> (KBA) and the <em>possibility<\/em> for fraud&#13;<br \/>\nstill to occur where the data sources used to generate the out of wallet&#13;<br \/>\nquestions (i.e. credit bureaus, utilities) have been breached. <\/p>\n<p><span>If youre not familiar with dynamic KBA, it is a&#13;<br \/>\nmethod for verifying the identity of an individual by asking questions that&#13;<br \/>\nonly that individual should be able to answer. These questions are often&#13;<br \/>\nreferred to as out of wallet questions, as having access to an individuals&#13;<br \/>\nwallet or purse would not be sufficient to provide the correct answers.&#13;<br \/>\nAt EVS we use a combination of public and private data sources to generate&#13;<br \/>\nthese questions internally, making it even more difficult for questions to be&#13;<br \/>\nanswered by anyone other than the individual they claim to be.<\/span><span><\/span><\/p>\n<p><span>Dynamic KBA is not a perfect solution, and cannot&#13;<br \/>\nguarantee preventing 100% of identity fraud, but the reality is that there is&#13;<br \/>\nno solution that can. EVS has seen clients decrease fraudulent&#13;<br \/>\nenrollments by over 99% by implementing KBA as part of their enrollment&#13;<br \/>\nprocess.<\/span><\/p>\n<p><span>The lack of a perfect solution should not be&#13;<br \/>\ntaken as a reason to avoid implementing a <a href=\"https:\/\/www.electronicverificationsystems.com\/solutions\/\">fraud prevention&#13;<br \/>\nsolution<\/a>. Every fraudulent transaction has an impact for both the&#13;<br \/>\nbusiness and their customers, and every fraudulent transaction avoided likewise&#13;<br \/>\nmakes a difference.<\/span><\/p>\n<p><span><br \/><\/span><\/p>\n<p><a href=\"https:\/\/plus.google.com\/+scottmillion?&#xA;   rel=author\">Scott Million<\/a><!--EndFragment--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There has been discussion lately regarding dynamic knowledge based authentication (KBA) and the possibility for fraud still to occur where the data sources used to generate the out of wallet questions (i.e. credit bureaus, utilities) have been breached.  If<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34],"tags":[],"class_list":["post-4537","post","type-post","status-publish","format-standard","hentry","category-fraud-prevention"],"acf":[],"_links":{"self":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/comments?post=4537"}],"version-history":[{"count":0,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4537\/revisions"}],"wp:attachment":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/media?parent=4537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/categories?post=4537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/tags?post=4537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}