This type of identity fraud is something financial institutions (FIs) are keenly aware of but, until lately, it has been difficult to detect and help prevent.
With an estimated 5 million checks per week being distributed to taxpayers, here are a few things to keep in mind.
Our industry-leading identity verification solution allows FIs to expand their customer base with confidence while also mitigating risk and fraud.
With digital account opening becoming the norm, financial institutions face pressure to detect fraud at the point of onboarding.

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...

The pandemic-driven rise in application fraud is leading to costly fraud losses. Effective risk mitigation relies on better identity verification.
The term “Digital Identity” has been popularized to link a consumer to his or her transactions online.
Opportunities for new account fraud are further exacerbated by the growing number of digital-native millennials, or consumers that prefer to conduct commerce in the online and mobile channels.

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.

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...