NEW ORLEANS - With identify theft increasingly one of the more popular forms of fraud perpetrated, Equifax has introduced a second tier level of its fraud prevention tools to attack the problem. FraudScan Plus includes all the features of the company's core FraudScan product, plus it uses the social security number in the verification process. In a matter of seconds, officials say, the product simultaneously searches multiple databases and determines if the applicant's name, address, phone number and Social Security number can be matched with a number of data sources and indicates the number of data sources which verified the applicant-provided information. The service provider can choose the level of service by indicating how many data sources are to be searched and to what degree of detail. Equifax says the verification rate is typically about 85-93%, depending on the level of service the provider chooses.
Equifax introduces FraudScan PlusT fraud prevention tool
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