As fraudsters leverage sophisticated tactics, including artificial intelligence (AI)-powered identity manipulation, the FinTech sector finds itself in the crosshairs of an escalating battle against financial crime. This threat landscape is the central focus of the latest edition of the Identity Verification Series, a collaborative report...
Plaid has launched a collaborative network designed to stop “the chain reaction of identity fraud.” The new Plaid Beacon network is open to FinTechs, financial institutions of all sizes and Plaid-powered customers and allows them to share information about stolen identities and compromised accounts, Plaid Head of Identity Alain...
While many corporations need to contend with identity fraud, a new version of this problem has arisen recently: synthetic identity fraud. This involves hackers making up new identities instead of impersonating a real person, although they will often stitch together IDs using information from actual...
Following a consensus from a panel of industry fraud experts, the Federal Reserve is introducing a uniform definition of what constitutes synthetic identity fraud (SIF). “A shared understanding of what constitutes synthetic identity fraud is expected to improve its detection, measurement and mitigation in the...
Fraudsters are preying on children, pilfering Social Security numbers and other data to commit identity theft, run up charges and ruin credit. Zac Cohen, general manager of Trulioo, tells Karen Webster that education and technology (along with a global digital ID network) can shield the...
Facial recognition technology helped U.S. border agents catch a traveler posing as a French citizen — and did so on the third day that authorities were using the biometric authentication system, officials said this week. The incident happened Tuesday (Aug. 22) at Washington Dulles International Airport,...
Ed Sheeran is “in love with the shape of you,” but Eva is in love with Trulioo – more specifically, the protection it gives her against a fraudster who steals her ID at the gym and tries to take over her identity. Thanks to Trulioo’s...
With Symantec Corp.’s completion of its acquisition of LifeLock, Inc., a leading provider of identity theft protection, it has created the most comprehensive consumer digital safety platform to help people protect their information, identities, devices and families. The acquisition, approved by LifeLock’s shareholders last month, was made for approximately $2.3...
Big data and analytics can be powerful for decision-making, but what if businesses aren’t taking advantage of what these tools really have to offer? Enter the real-time game changer. Enova Decisions Chief Analytics Officer Joe DeCosmo explains why the next big data trend revolves around...
