Our industry-leading identity verification solution allows FIs to expand their customer base with confidence while also mitigating risk and fraud.
Synthetic identity fraud losses rose to an estimated $20 billion in 2020—spiking sharply from an estimated $6 billion in 20161. One of the fastest growing financial crimes in the U.S., synthetic identity fraud is now one of the nation’s leading...
Synthetic identity fraud is the fastest-growing financial crime in the country, and by appearing and acting like legitimate accounts, these identities are challenging for banks, credit unions and other organizations to detect.
Companies across all...
The pandemic-driven rise in application fraud is leading to costly fraud losses. Effective risk mitigation relies on better identity verification.
In the latest webinar co-hosted by Early Warning® and Nacha, we will discuss account validation beyond payment authorization. Our panel of experts will share five strategies organizations can use to deliver a frictionless multi-channel experience...
New synthetic identity fraud detection combines predictive scoring with rules-based solutions.
Have you ever asked, “what is synthetic identity fraud and how can I safeguard my institution against it”?
Fraudsters, like Shana in this video, are creating synthetic identities using a mix of legitimate and fabricated information to create new...
Are your identity verification tools keeping up with today’s quickly evolving threats like synthetic identities and helping your financial institution deliver a great applicant experience with minimal friction?
If there’s room for improvement, this...
A computer consultant sells his list of more than 700 synthetic identities to two Florida men to steal millions from COVID-19 relief programs.
Synthetic identity fraud is the fastest growing financial crime in the U.S. and fraudsters are capitalizing on existing blind spots with traditional fraud risk models. Verify Identity is a new account opening tool built with ID Confidence, a Synthetics Indicator and Verify SSN to help stop bad actors from entering the system.
Application fraud prevention is getting a lot of attention from banks and credit unions. For good reason.
Account opening processes are speeding up, much to the delight of consumers. But faster application processes are also driving a notable rise...