SubscriberWise instant decision technology returns SSN related ‘Red Flag’ and alerts agent. Federal Trade Commission's 'Red Flag' requirements work as intended to spot identity theft and ultimately protects both victim-child and operator.
MASSILLON, Ohio--(BUSINESS WIRE)-- SubscriberWise®, the nation’s leader in analytics driven subscriber decision management technology and America's largest issuing consumer reporting agency for the communications industry, announced today that its 'Red Flag' technology triggered an instant alert that uncovered a synthetic identity theft involving illegal use of a minor child's SSN.
"Fraud mitigation starts with the right technology solution," said SubscriberWise president David Howe. "We've covered that for our member operators around the country. But it also requires due diligence on the part of the customer service agent who must act on the alert. It requires training. In this situation, the agent trusted his training and good judgment and contacted management with the ‘Red Flag’. The follow up included a manual review of identity information that revealed more serious concerns,” continued Howe. “For example, a subsequent search of the child's SSN indicated an additional name associated with the SSN. The same search also identified the child's name directly, a very suspicious and highly unusual situation since children and their identities should never be contained in any system of business intelligence.”
"Indeed, this kind of fraud is a different and more dangerous type of parental identity theft," explained Howe. “Fortunately, it’s not typical for the industry. It's called synthetic identity theft because the victim's identity information is associated with another's credit file or personal information. It's also the reason many other systems fail to identify the fraud. Most systems today are fully automated. There isn’t necessarily a manual review of the information. With synthetic fraud, the system may process a credit decision successfully. Victims and creditors are often never aware until it’s too late.”
“This is a serious and sad situation. At the same time, it is very gratifying to know that SubscriberWise gives our Call Center the tools they need to protect the security of children at the same time they do their job of helping our customers and sales prospects,” said Robert Gessner, president of MCTV
“Following this incident, we immediately notified the law enforcement detective bureau. We also alerted the fraud department at the national repository so that a block could be placed on the child’s SSN,” concluded Howe.
By incorporating years of communications performance data and decision models, including FICO's latest analytic technology (FICO 8 Score), SubscriberWise delivers unprecedented predictive power with a fully compliant, score driven decision management system. SubscriberWise is a risk management preferred-solutions provider for the National Cable Television Cooperative. The NCTC helps nearly 1000 members nationwide.
SubscriberWise is a U.S.A. federally registered trademark of the SubscriberWise Limited Liability Co.
David E. Howe, President, 330-880-4848 x137