Evaluation flags are great indicators of anything that is preventing the application from moving forward to full acceptance or if the application has been denied, understanding why the denial occurred.
- Phone - failed to verify / high risk
The phone number may be invalid or unrelated to the applicant, it may be from a different state than the one listed on the application.
- Email - high risk
The email may be invalid or unrelated to the applicant.
- Identity - failed to verify / high risk
Identity is not able to be verified.
- Address - failed to verify / high risk
The address is associated with high risk or was not verified, i.e address on the application is not matching the one on the document type.
- Suspicious connection to other applications
This is associated with high fraud score or known fraud risk to other applications including suspicious or fraudulent behavior. Additionally, any personal identifiable info (PII) on the app that is found on other apps that don't appear to belong to the same person.
- Fraud Risk
This flag is obtained from the results of scores that are proprietary based on algorithms owned by Socure & ID analytics. The flag is for increased fraud risk, additional reasons contributing to this include VoIP phone, commercial address, high-risk phone score, new phone, invalid SSN, etc.
- Multiple Failed Requests for Documents
Several requests were made to validate a document type resulting in this flag. An applicant receives up to 3 attempts to provide the correct documentation.
- Altered/Fictitious Documents
Depending on the documents submitted, one or more could have been flagged as altered, we can identify which one is altered and pinpoint the details. Any markings, logos, variations in font, or bolding that looks different from standard bank statements are indicators.
- SSN - failed to verify
In the event, an application has this flag or if you see the doc to validate the SSN approved and the application still has this flag this is due to the SSN being listed as associated with confirmed fraud. Additionally, if there is a high fraud score from one of the vendors combined with the associated SSN as fraud this will lead to this flag.
- OFAC or other watchlist
The flag is for increased fraud risk, if there's a confirmed hit for an OFAC or watchlist.