Cookie Consent

By clicking “Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.

deny icon
Deny
allow icon
Accept
ACCOUNT FRAUD DETECTION AND PREVENTION FOR EDUCATION

Safeguard Education by Dismissing Fraudsters

Educational institutions are attractive targets for fraud. From K-12 schools to higher education, it’s one of the hardest areas to defend. Schools are veritable treasure troves for fraudsters housing sensitive data including SSNs to health records to banking and credit card information. And, budget constraints often mean there are scant resources available to invest in internal monitoring and prevention, making these data-rich environments even more vulnerable to fraudulent endeavors.

Verosint has what it takes to protect school systems, with innovative tools for real-time account fraud detection and prevention that keep fraudsters out and keep personal data, financial information and other valuable assets safe.
Header image
20%

Percentage of fraudulent community-college applications


Source: California State Chancellor’s Office, 2023
$3.7M

Cost of the average data breach in higher education


Source: IBM Security, Cost of a Data Breach Report, 2023
$1.8M

Amount the Dept of Education lost in one student loan scam


Source: The Advocate, 2023
“As a result of their alleged scheme, the defendants fraudulently caused the United States Treasury to disburse approximately $980,000 in FSA funds on behalf of straw students.” - U.S. Attorney's Office, Central District of California, Press Release, March 2023

Verosint: Protecting the Most Vulnerable Targets

Beyond the attraction of the vast amount of valuable sensitive information they store, there’s also the variety of fraudulent activities bad actors can engage in using that information. For example, they can create fake student accounts (“ghost students”) to apply for student financial aid. These can also falsely fill up class seats and prevent legitimate students from enrolling. They can conduct account takeovers (ATOs) to leverage credentials to access financial accounts and divert the funds. And to top it all off, at the start of every school year, a whole new population of students comes in with fresh data to exploit.
‍
It’s more than most schools can fight successfully. But it’s not too much for Verosint.

With Verosint, schools can:

Automate fraud detection and account verification
Spot fraud risk in real-time, at the point of login
Speed account registration and onboarding while increasing security with adaptive proofing
Provide easy to understand fraud insights
Block fraud by integrating Verosint with leading authentication platforms
Shift the burden of fighting fraud away from students, faculty, and administrators
robot in a graduation cap
CASE IN POINT  

Verosint: Safeguarding Against Fraudulent Admissions

Fraudsters are increasingly using bots to exploit community college financial aid systems, causing disruptions in admissions and wasting resources. Verosint offers a robust solution, preventing scammers from manipulating admissions and accessing financial aid. Without automated real-time fraud detection, higher ed systems struggle with the influx of online applications, making verification challenging. Verosint's online fraud detection and prevention solution allows institutions to establish stricter controls, automating verification before admitting students and disbursing aid.

‍The result? An effective solution that spots account fraud in real-time and reduces financial and resource loss. And, ultimately ensures genuine students can enroll in the classes they want without the interference of fraudulent bots taking up valuable spots.

Verosint: Get an A+ on Fraud Detection

Fraud-related financial losses may get the headlines, but there are many other kinds of losses that result from account takeovers and fake accounts in education, including admissions, records, and research fraud. Verosint is here to protect education across the entire threat landscape, with:
Proactive fraud discovery enabled by advanced capabilities for data analysis, including Verosint’s unique SignalPrint technology that enables you to easily distinguish legitimate users from bad actors
Fraud visibility resulting from analysis and distillation of relevant information across massive amounts of data, with results presented in easy-to-read graphical views that help spot trends
Technology integrations that seamlessly connect Verosint capabilities to authentication and identity-proofing solutions already in place, for less operational disruption and budget impact
Implementation tools including templates for frequently encountered fraud use cases, so you can put Verosint capabilities to work more quickly and start detecting fraud faster
No matter who commits fraud against schools or for what purpose, Verosint will commit its considerable resources to stopping them and the harm they do.
Request a Demo
FREE Fraud Assessment
Video play iconVerosint Fraud Dashboards. Start Your 14-day free trial.