Sigma Identity Fraud

Sigma Identity Fraud analyzes every dimension of consumer identity to maximize auto-approvals, minimize fraud risk, and streamline risk operations. The product consists of the Sigma Identity Fraud model, which provides a score based on the likelihood of a presented identity being stolen, and a list of reason codes that provide insight into risky and mitigating factors. Powered by a machine learning first methodology, the score is the output of a model that is trained on a rich set of feedback data (including confirmed instances of fraud across a broad set of Socure's customers) and uses predictors developed from a combination of raw and derived fields sourced from internal and external data sources.

How it works

The Sigma Identity Fraud product returns the following outputs:

Fraud Risk Scores

The fraud risk score is a probabilistic value between 0.001 and 0.999 that predicts the inherent fraud risk associated with the input PII. A higher score indicates a greater likelihood of fraud.

The scores are uniformly normalized across Socure's network. This means that, a score of 0.800 indicates that the consumer is riskier than 80 percent of all consumers or less risky than 20 percent of consumers. In general, consumers with scores equal to or greater than 0.900 are considered high risk.

For most integrations a single score will be returned in the response, but more than one score can be returned. This will be coordinated with your account team when it is necessary, and is generally used during upgrades to newer model versions.

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Note:

In addition to the model score, a name and a version will also be returned for each score. These values are returned for auditing and to differentiate between models when multiple scores are returned.

Reason Codes

The reason codes in the response provide detailed information to help you understand the factors that influenced the fraud risk score. Reason codes are boolean indicators of conditions that were applicable to the consumer and can be used to refine decisioning workflows.

See Reason Codes in the RiskOS™ Dashboard for information on which reason codes can be returned as part of the Sigma Identity Fraud product.