In the digital economy, even a few seconds of delay in detecting a fraud attack can lead to significant financial and reputational damage to your business. Detect fraud early with GBG Alert. Strengthen fraud detection during onboarding using unrivalled proprietary analytics and intelligence derived from millions of cross-industry identity verifications.
See it for yourself – leverage Australia’s most trusted identity solution to detect fraud and AML risks before they impact your business.
GBG Alert is an early fraud detection solution derived from millions of onboarding events. As the largest electronic identity verification provider in Australia, GBG processes over 30 million checks every year across industries. GBG Alert combines data from these onboarding checks with machine learning to determine a set of rules that detect fraud in real-time. When GBG Alert detects a suspicious identity verification, it is tagged with an explainable rule code and risk rating. The business can then choose to step-up the verification or reject the application.
Real-time fraud detection is crucial for client onboarding because it stops bad actors from accessing your products and services. In Australia, identity theft is one of the most common fraudulent activities, in part due to the growing number of major data breaches which have given fraudsters access to personally identifiable information. As a business, you have a responsibility to prevent fraudsters from gaining access to your products and services. And the most effective place to stop fraud is at the beginning of your organisation’s relationship with the customer – the onboarding process.
GBG Alert benefits businesses by protecting them from fraudsters, preventing financial loss, helping build customer trust, and saving operational costs. The Australian financial crime landscape is unique, and GBG Alert is specifically developed for Australian businesses, using Australian data and expertise. By detecting potential fraud, GBG Alert stops businesses from onboarding bad actors and giving them access to services and products, such as unsecured loans. The fraud detection solution detects account opening for the purposes of money laundering and stops facilitation of financial crime, such as money mules. GBG Alert also helps build customer trust by reducing the personal impact of financial crime, like stolen nest eggs. Another benefit of GBG Alert is lower operational costs. By stopping fraud before onboarding, businesses can reduce back-office investigation, account closing procedures and AUSTRAC reporting.