Veros Unveils Fraud Detection Tool

Veros Software, Irvine, Calif., has announced the introduction of a new fraud detection scoring tool, the VeroValue Transaction Quality Score.The TQ Score is a numeric indicator used for detecting nonstandard residential property transfers in order to determine the likelihood of "flipping," fraud, or other suspicious activity, Veros said. "The TQ Score was built with our customers and automated decisioning in mind, on a 1-to-100 scale allowing immediate recognition of potential collateral fraud," said Darius Bozorgi, president and chief executive officer of Veros. The company said the score, in conjunction with Veros' proprietary analytics, "goes far beyond the common approach" of counting and flagging property ownership transfers by "dynamically" analyzing details such as area and regional price trends, value differentials, and irregular transfer conditions. Veros can be found online at http://www.verovalue.com.