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Synthetic ID Fraud: What It Is, How It Works & Real-Life Scenarios

This webinar will explain what synthetic identity fraud is, how these fictitious identities authenticate during CIP onboarding and other knowledge-based authentication protocols, and proven strategies to thwart this evolving threat. This must-attend program will change how your financial institution onboards and authenticates consumer transaction accounts and loans.

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Type of Event
On Demand Webinar

Who Should Attend
  • Lending
  • Live Webinars
  • On-Demand Webinars
  • Executive
  • Compliance

Purchase

Description

According to the U.S. Federal Trade Commission and Department of Justice, synthetic identity fraud is among the fastest and most difficult to detect fraud trends in financial services today. These fraudsters create identities from the sum of related and unrelated parts. This webinar will explain what synthetic identity fraud is, how these fictitious identities authenticate during CIP onboarding and other knowledge-based authentication protocols, and proven strategies to thwart this evolving threat. This must-attend program will change how your financial institution onboards and authenticates consumer transaction accounts and loans.

Learning Objectives

  • Definition and examples of synthetic identity fraud
  • Why the young and elderly are rich targets
  • Hallmark red flags to detect synthetic identities within credit reports
  • Proven techniques to thwart the threat via a multi-layered risk management approach
  • Case study: lessons learned after $200,000 synthetic identity theft and the programmatic enterprise changes made afterward

Speaker

Brian W. Vitale, NCCO, CAMS-Audit, Compliance Advisory Services

Investment

$259.00