Synthetic identity theft – a crime perpetrated by bad actors who use real and fake personal information to craft an authentic-looking digital identity – is a fast-growing crime and continues to increase. In fact, according to Aite Group, Synthetic Identity fraud cost U.S. banks $1.8 billion in 2020 and is projected to increase to $2.4 billion in 2023.
During this time of economic uncertainty, how can financial institutions be certain that the customer signing up for a new account or service really is who they claim to be? And at a time when budgets are tight and staffs are thin, how can one secure the resources one needs to fight synthetic identity theft and other rising fraud trends?
DISCUSSION POINTS
Tony Morbin
Executive News Editor
ISMG
Kurt Weiss
VP, Financial Services & Payments
Ekata, a Mastercard company
Join Kurt Weiss, Vice President of Financial Services & Payments at event sponsor Ekata, a Mastercard company to gain his unique insight into synthetic identity theft and other common fraud types, as well as how leading institutions are improving detection and defenses – even in economically challenging times.
This 90-minute session will be:
Hyatt Regency, King Street West, Toronto, ON, Canada
Ekata Inc., a Mastercard company, empowers businesses to enable frictionless experiences and combat fraud worldwide. Our identity verification solutions are powered by the Ekata Identity Engine, which combines sophisticated data science and machine learning to help businesses make quick and accurate risk decisions about their customers. Using Ekata’s solutions, businesses can validate customers’ identities and assess risk seamlessly and securely while preserving privacy. Our solutions empower more than 2,000 businesses and partners, including Alipay, Paypal, and Microsoft, to combat cyberfraud and enable an inclusive, frictionless experience for customers in over 230 countries and territories.
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