Customer Identity & Access Management (CIAM) , Fraud Management & Cybercrime , ID Fraud

Spotting and Stopping Synthetic ID Fraud

Are Your Customers Even Real?

Synthetic identity fraud is the fastest-growing type of financial crime in the country and a particularly dangerous challenge for all companies. By combining real and fabricated personal information, a synthetic identity is specifically designed to look and act like a valid identity - until it doesn’t, leaving financial losses and criminal activity in its wake. That makes this type of fraud good at evading traditional expert systems and models.

We had a chance to catch up with Chuck Moore, vice president of product management with Early Warning, in our virtual studio and discussed many key issues, including:

  • What the industry is doing to grapple with the problem of synthetic identity fraud;
  • Real-world examples of strategies to mitigate this type of fraud through multiple layers of detection and prevention;
  • What steps organizations can take to address the threats posed by synthetic identity fraud.

Moore also addressed what Early Warning is doing to combat synthetic ID fraud, including developing a unique solution, Verify Identity, that leverages data from thousands of financial institutions to provide a more reliable and timely assessment of an applicant's identity credentials.


About the Author

Tom Field

Tom Field

Senior Vice President, Editorial, ISMG

Field is responsible for all of ISMG's 28 global media properties and its team of journalists. He also helped to develop and lead ISMG's award-winning summit series that has brought together security practitioners and industry influencers from around the world, as well as ISMG's series of exclusive executive roundtables.




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