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FraudIQ Manager

Fraud detection solution to help you identify and manage fraud risk and minimise potential losses (powered by SIRA)
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Product Overview

FraudIQ Manager is a web based, hosted, enterprise fraud management solution that helps identify high-risk and potentially fraudulent activity before it impacts your business.

FraudIQ Manager uses the National SIRA cross-sector risk intelligence database, a market-leading fraud solution from Synectics. National SIRA is the largest and most authoritative syndicate of its kind, and contains over 300 million* records across the private and public sectors.

*Source: Synectics, 2024

How It’s Used

Customisable Rules Engine
Static rules often mean that fraudsters can get ahead of detection. Manage your fraud rules in real-time and prioritise your fraud risk levels to help detect fraud sooner and optimise false positive rates as fraud patterns change.
Fraud Ring Detection Capabilities
Using a single database of frauds and applications, FraudIQ Manager is specifically designed to match on previous applications and frauds in a single search. This helps identify both links to known previous frauds and spot potential fraud rings.
Workflow Management
Set, prioritise, and manage your operational workflows to focus resources where you need them most. Built in reports provide detailed information on metrics such as rule performance, false positives, potential fraud savings and an audit trail.
Advanced Linking and Searching Capabilities
Advanced linking and searching capabilities enable your analysts to easily spot problematic cases that could impact your organisation. Analysts do not need to search extensively to identify the most problematic fraud rings in the early stages.
Fraud Information Sharing
FraudIQ Manager leverages shared, multi-industry fraud data to give you a broad view of current fraud activity. In addition, some applications and processes can be compared against internal only data where shared data does not apply.

Key Stats

74%
Fast-tracks up to 74% of applications¹
17%
Reduce false positive rates by up to 17%¹
50%
Reduces referrals by up to 50%¹
¹Synectics, 2024

Fraud Detection to Cut Revenue Losses

Fraudsters often use the same fake or stolen identities to perpetrate fraud in multiple departments of the same organisation or across different organisations. Having a collective view of fraudulent activity both within and outside the organisation helps protect against fraudulent attempts. With a cross-industry universe of confirmed and suspected fraud, FraudIQ Manager gives fraud departments a flexible rules engine and a way to learn from previously known and suspected fraud.

Speed Up the Fight in Fraud

FraudIQ Manager enables you to identify and focus on the potential fraud that carries the most risk to your business. Providing analysts and investigators with detailed information on potential fraud helps them manage fraud strategies in real-time, and when investigators identify suspicious patterns of data from ongoing investigations, new front-end rules can be quickly deployed in FraudIQ Manager to help minimise potential losses.

Trusted Data and Expert Support

Expertise in data and privacy
Equifax is a trusted steward of data with 100+ years of data management experience.
Web-based hosting solution
Reduced client capital expenditure costs and more predictive operational costs.
Dedicated client support team
Provides pre-implementation support and ongoing consulting services.

Related Resources

Article
Article
The Good, The Bad and The ID: Identifying Fraud & Securing Customer Loyalty
Infographic
Infographic
Some sectors make better targets for fraudsters than others
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