AFATS™ Commercialization

ACTIVE FRAUD AVOIDANCE Technology System (AFATS™)

MQCC FraudWatch™ at MQCC™ (MortgageQuote.ca) is a commercial application based upon standards (www.FinanceStandards.org)  implemented since 2007 .  Using MQCC™ MortgageQuote's proprietary ACTIVE FRAUD AVOIDANCE Technology System (AFATS™) oversees a file (ARCHANGEL™ Service) Artificial Intelligence (AI) Powered Fraud Identification, Prevention, Correction system, named: MQCC® AI FRAUDWATCH™. Helping keep you and MQCC® safe from  the point of origination to the point of funding to identify instances of nonconformity (fraud indicator or red flag) indicating instances of fraud.  MQCC™ as the global leader in peer-to-peer (crypto/secret/shadow/private) finance  is leading the way by  doing its part to identify and avoid the high cost of mortgage fraud.  

What is AFATS™?

AFATS™ is a United States (and Canada equivalent) Department of Defense Standard, Military-Grade, Registered System developed by MQCC™ MortgageQuote.ca’s Founder, Anoop Bungay; between at least as early as August 14, 2001 and May 9, 2008; visit www.mqcc.org to learn more.

This policy functions in collaboration with the MQCC™  Data Artifacts, Privacy (PIPEDA), Data Security, Website Terms of Service, Legal, Disclosures: Statements for MQCC found at privacy.mortgagequote.ca. 

Introduction

Every professional (lawyer or not) on Earth understands that fraud, an economic crime and financial crime, is rampant in commerce. When unchecked, fraud may result in major negative consequences for society as a whole. 

Types of Fraud

Fraud comes in many forms, but there are typically two (2) types of fraud:

Type 1) Fraud against persons

Type 2) Fraud against Organizations (companies, government, institutions)

Sub-Types of Fraud

There are many sub-types of fraud; as wide as your imagination and wider. Visit the Canada (the jurisdiction in which MQCC® Head Office is domiciled) Anti-Fraud Center for a partial list; www.antifraudcentre-centreantifraude.ca

• General Fraud List (A to Z): https://www.antifraudcentre-centreantifraude.ca/scams-fraudes/azindex-eng.htm

• Type 1 Fraud List: https://www.antifraudcentre-centreantifraude.ca/scams-fraudes/individual-individuelle-eng.htm

• Type 2 Fraud List: https://www.antifraudcentre-centreantifraude.ca/scams-fraudes/business-entreprise-eng.htm

MQCC® FRAUD PREVENTION

Some particular form of fraud the MQCC® has experience with detecting and preventing is:

• Real Estate and Mortgage Fraud

• Application Fraud against finance providers

  • • • • a form of fraud against a finance supplier or finance intermediary DURING the application process.

• Acceptance Fraud against finance providers

  • • • • a form of fraud against a finance supplier or finance intermediary AFTER an application matures to an offer to finance and AFTER the offer to finance is accepted by the parties involved.

MQCC® ROLE with Members of the Legal Profession

Given that MQCC® is originally a financial services organization, MQCC® works closely with legal professionals (lawyers, attorneys, notaries) to detect and prevent fraud.

fraud

noun

ˈfrȯd 

Synonyms of fraud

1

a

: DECEIT, TRICKERY

specifically : intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right

was accused of credit card fraud

b

: an act of deceiving or misrepresenting : TRICK

automobile insurance frauds

2

a

: a person who is not what he or she pretends to be : IMPOSTOR

He claimed to be a licensed psychologist, but he turned out to be a fraud.

also : one who defrauds : CHEAT

b

: one that is not what it seems or is represented to be

The UFO picture was proved to be a fraud.

Source: https://www.merriam-webster.com/dictionary/fraud