ID Analytics Will Support Veterans Affairs by Providing Ongoing Breach Analysis to Further Safeguard Veterans' Personal Information

SAN DIEGO, Aug. 9 /PRNewswire/ -- ID Analytics Inc., the Identity Risk Management technology company, today announced that the Department of Veterans Affairs (VA) has accepted the company's offer to provide its unique breach analysis services to analyze the Department's recent data breach involving the identity information of millions of veterans and service members. This analysis will monitor the data breach file on an ongoing basis to ensure that there is no organized misuse of the information.

"Our technology will provide veterans with an additional layer of protection against identity theft by proactively monitoring identity information from the recovered computer equipment for fraudulent misuse," said Bruce Hansen, chairman and CEO of ID Analytics. "By applying our technology against a file of breached data, we can determine that there is no organized misuse stemming from the compromised data evident in our ID Network."

VA has requested that ID Analytics advise it on an ongoing basis as to whether there is any organized misuse of the VA data.

ID Analytics will compare the VA breach file against data in its ID Network(TM), the nation's first and only real-time fraud prevention system. ID Analytics' sophisticated Graph Theoretic Anomaly Detection (GTAD(R)) technology will work within the ID Network to detect patterns of suspicious behavior in relationship to the breached VA data. The ID Network comprises more than three billion identity elements contributed by its members, which include the largest US industry leaders from across the credit card, wireless telecommunications, and instant lending industries. It is only through the ID Network that these suspicious patterns can be tracked in real time, across multiple industries.

"When fraudsters use stolen identity information for financial gain, they typically leave tell-tale signs that are detectable only through the ID Network," added ID Analytics' Hansen. "They might change addresses or phone numbers when they use those identities to open new bank accounts, obtain mobile phones or secure credit cards. Without our technology, this identity manipulation often appears benign. But by applying deep analytics across multiple companies and industries, we are able to identify systematic misuse of data sets such as the VA breach file."

ID Analytics can also produce a list of any impacted identities along with details on the patterns of misuse, allowing a breached organization to deliver victim assistance directly to those that need it. Moreover, if misuse is found, information discovered during the analysis of the breached file will be provided to law enforcement so that they can apprehend those individuals who may decide to misuse identities.

About ID Analytics, Inc.

ID Analytics is the Identity Risk Management company providing advanced analytic solutions that prevent identity fraud and manage identity risk across the customer lifecycle. ID Analytics' intelligent ID Network(TM), the first and only real-time national network built exclusively to manage identity risk, makes it possible for organizations to calculate the risk associated with an identity and balance identity risk against profit. The ID Network is in use daily by over half the credit and retail card issuer market in the US, as well as leading wireless and online consumer finance companies. To empower consumers and to help more organizations in more industries to fight identity fraud, ID Analytics has channel partners in the bankcard, credit reporting and retail banking industries. ID Analytics, host of Identity 2006, the annual Identity Risk Management Conference Sept. 18-21, is based in San Diego with offices throughout the US and the UK.

ID Analytics is a trademark of ID Analytics, Inc. All other trademarks and registered trademarks are the property of their respective holders.