CASE STUDY

Multinational Financial Institution
Stops Fraud Worth More Than
$500,000 via LexisNexis® TrueID®
All-In-One Scanner
We’ve seen significant fraud reduction since thelaunch of these scanners in our branches. We’ve
even seen fraudsters leave their fake IDs behindand hurry out the door once they realize we aregoing to scan their IDs with this technology.
- Sr. Director, Fraud Strategy, Retail & Small Business

At A Glance
Industry

Challenge

Financial Services

Interrupt account fraud schemes
Improve in-branch fraud detection
Expedite identity document authentication

ClientMultinational financial
institution based in
North America

Solution
LexisNexis® TrueID® All-In-One Scanner

CASE STUDY

An opportunity to strengthen in-branch fraud prevention
In-branch document authentication presented as a key area to fortify when thefinancial institution sought to ensure robust fraud protection across channels. The
document authentication process at the time relied on human manual review todetermine the authenticity of an identification document (ID); a near-impossible
task, given the high quality of fake IDs produced today.
Fraudsters seek to exploit manual review processes by presenting fake IDs thatrival legitimate IDs in appearance. Many fake IDs look authentic to the human eye.
Training for document inspection techniques is extensive and can exceed core job
training for customer service representatives (CSR). Organizations can struggle
to keep up with thousands of different types of IDs, each featuring a different
combination of standards and security features.
While improving document authentication, the financial institution prioritizedprotecting consumers, preventing fraud and minimizing financial loss. Effective
document authentication can help prevent opening fraudulent new accounts, which
can in turn prevent a range of potential liabilities, such as fraudulent check-cashing,illicit requests for replacement credit or debit cards, and very high-valuetransactions like wire transfers and title fraud.
In title fraud, a fraudster assumes the identity of a private homeowner to illicitly
attain the title on the individual’s home, sell the individual’s property or obtain amortgage on that property in the homeowner’s name. A single instance of title fraud
can cost hundreds of thousands of dollars.

We identified our first fraudster literally
hours after we installed the device.”— Senior Director | Fraud Management
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CASE STUDY

Why the financial institution chose the TrueID All-In-One Scanner
The financial institution needed its in-branch representatives to confidently
and conveniently authenticate identity documents in face-to-face transactions,
so it pursued testing the LexisNexis TrueID All-In-One Scanner. The scanners
automatically authenticate 6,800+ global ID types from 200+ countries andterritories, including: driver’s licenses, national identity cards, passports and more.
A standalone solution, the scanners include the software and licenses necessary
to run 50+ forensic, document-specific authentication tests in near real time anddeliver a document pass rate at approximately 95%. Fully remote administration
allows end users to self-serve, reducing the need for engineering integration andlocal LAN support resources. After completing a successful proof-of-concept test
phase, the financial institution implemented hundreds of scanners across theirbranch network.
The TrueID All-In-One Scanners can integrate with LexisNexis® TrueID® web services forconfident identity document authentication in face-to-face and remote transactions,respectively. Integration with the full LexisNexis® Risk Solutions suite of fraud andidentity solutions supports a more robust risk prevention posture. As new fraud
trends emerge or consumer expectations change, the financial institution canrespond more efficiently and effectively.

When a TrueID All-In-One Scanner flashes
green, representatives know they can be more
confident with whom they are interacting.
Blocked $500,000 title fraud attempt
implementing thethe TrueID
TrueID All-In-One
All-In-OneScanners,
Scanners,overover$500,000$500,000was
wasSoon after implementing
transferred into a new account at the financial institution from a law firm with thenotation “net sale proceeds.” Over several visits to a physical branch, two individuals
attempted to wire the sale proceeds to another account. They provided several formsof identification, including a permanent resident card, a copy of a local driver’slicense and an international passport which appeared to be brand new. Each pieceof identification failed the TrueID All-In-One Scanner at the branch, preventing thetransaction and raising concern of fraud. The financial institution investigated andengaged law enforcement.
3

CASE STUDY

As word spread that the financial institution was detecting more forms of fakeID, fewer fraudulent documents have been presented at branches with thescanners. Customer Service Representatives report greater confidence in document
authentication, now that they have a stronger solution on their side. When a TrueID
All-In-One Scanner flashes green, representatives know they can be more confident
with whom they are interacting.
As the financial institution continues to hone fraud operations, in-branch and via
remote channels, it can readily implement risk-based workflows via the LexisNexis®
Dynamic Decision Platform. The platform provides access to all fraud and identity
capabilities available from LexisNexis Risk Solutions through a single-call API
approach. With risk-based workflows, forward-thinking organizations respond more
effectively to the risk level of the present interaction or transaction, correctly blocking
fraudulent actions while promoting positive experiences for legitimate consumers.

For more information: risk.lexisnexis.com/products/trueid or 408.200.5755

About LexisNexis® Risk Solutions
LexisNexis® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insightsthat help businesses across multiple industries and governmental entities reduce risk and improve decisions to benefit people around theglobe. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a globalprovider of information-based analytics and decision tools for professional and business customers. For more information, please visit
LexisNexis Risk Solutions and RELX.

This document is for informational purposes only and does not guarantee the functionality or features of any LexisNexis Risk Solutions products identified. LexisNexis Risk Solutions
does not warrant that this document is complete or error free. LexisNexis Risk Solutions believes this case study experience generally represents the experience found with other similarcustomer situations. However, each customer will have its own subjective goals and requirements and will subscribe to different combinations of LexisNexis Risk Solutions services tosuit those specific goals and requirements. This case study may not be deemed to create any warranty or representation that any other customer’s experience will be the same as theexperience identified herein.
LexisNexis and the Knowledge Burst logo are registered trademarks of RELX Inc. TrueID is a registered trademark of LexisNexis Risk Solutions Inc. Other products and services may be
trademarks or registered trademarks of their respective companies. Copyright © 2024 LexisNexis Risk Solutions. All rights reserved. NXR16414-00-0424-EN-US