Mortgage fraud

The risk from mortgage fraud is increasing as organised criminal groups develop more intricate and highly organised schemes to extract funds schemes that commonly use "identity takeover" rather than fabricating new identities. Traditional systems fail to stop the determined fraudster because application checking systems fail to see the underlying fraudulent network, and their heavy reliance on matching to known fraud lists fails to prevent so called 'new skin' fraud.

Detica NetReveal^® enables your organisation to discover previously undetected mortgage fraud quickly, allowing your investigators to take appropriate and immediate action. Using advanced social network analysis, it analyses vast quantities of transactional and customer information across different dimensions including, solicitor, broker, accountant, surveyor, geography, employee and customer levels. By linking these dimensions within your data, previously hidden relationships between people and activities can be revealed.

Rather than operating only at application level, our solution for mortgage fraud combines network, entity and account level analysis to detect fraud with increased accuracy and provide investigators with a single view of applicants, solicitors and broker relationships. The case management system also enables them to manage suspect cases through the account lifecycle and react in a timely manner to new and emerging threats.

Detica NetReveal^® provides the following benefits:

• detect returning and ‘new skin’ fraudsters in real-time to prevent losses at the point of application;
• identify high-risk applications and accounts, enabling preventative action before completion;
• effective detection and reaction to new, and previously unknown fraud modus operandi;
• incorporation of third-party data sources (for example UK Land Registry data) to enhance risk-scoring at the application stage.

For more information, please download the Detica NetReveal^® mortgage model factsheet from the knowledge centre