Middesk has launched Address Risk Insights, an advanced feature integrated into its Verify and Signal products. This tool is designed to enhance the assessment of risks associated with business addresses during onboarding and ongoing customer monitoring. It aims to help financial institutions and businesses identify potentially fraudulent or high-risk addresses, improving the security and compliance of customer approval processes.
Address Risk Insights evaluates risk through several methods:
Risk-Based Verification: Validates the legitimacy of US and international business addresses.
Registered Agent Detection: Flags addresses commonly linked to fraudulent activities.
Mailbox Designations: Identifies high-risk locations such as private mailboxes or PO boxes.
Location Frequency Analysis: Detects multiple businesses using the same address, signalling potential fraud.
Source: thepaypers.com