SentiLink, which creates technology to detect and prevent synthetic fraud, closed $14 million in a series A round led by Andreessen Horowitz.
in losses. Oftentimes, lenders do not rule out synthetic fraud when reviewing applications.
Harris recalls that Blumenfield made"hundreds of often hilarious phone calls" to suspected fraudsters at Affirm. For example, when verifying an address, he would ask questions like,"What's the name of the street next to your address?" In the background, they could hear the fraudster frantically typing to find what the name of the nearby street is.
SentiLink is focusing on detecting synthetic fraud for now, but in the next year or two, it hopes to create an identity bureau that banks and lenders can work with to verify identities, as well as alert the industry about a fraud account.
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