Experian has enhanced Hunter, its data-sharing fraud prevention software. The upgrade – which goes live in the UK this week – will allow banks, insurance companies, and other financial services and credit granting organisations to manage and investigate organised fraud more effectively.

Providers are now able to group several applications into a single ‘case’, allowing investigation of all ‘linked’ applications and identify whether they are linked to earlier fraudulent events. This has also improved Hunter’s capacity to prioritise potentially dishonest claims based on the risk and outcome of any previous related applications. Those that pose a significantly higher threat are highlighted by the software. Where users identify a possible fraudulent application, they will now be able to capture more detailed information, including the type of fraud identified and the potential loss if the request were to be accepted and proved fraudulent.

Nick Mothershaw, UK director of identity & fraud at Experian UK&I, comments: “Fraudulent activity against financial service providers remains a significant risk, impacting balance sheets and, ultimately, customers’ pockets. By identifying fraud at point of application, organisations can act quickly to prevent fraudsters from realising any material gains. The enhancements we have made to the Hunter system not only improve the efficiency of fraud investigators’ work, but allow more fraud to be identified and improve the insight into the type of fraud being committed. This will all ultimately allow us to share more intelligence about the evolving nature of fraud.”

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