Fraudsters create synthetic identities to easily bypass security systems that rely on verifying the links between individual identifying attributes (such as names, addresses and phone numbers). As a result, they can evade detection for long periods of time, building up credit and reputation before committing costly “bust-out” fraud.
Defeating synthetic fraud requires a holistic and stable understanding of the strength, tenure and frequency of all links between a consumer’s identifying attributes. This approach helps curb synthetic identity fraud, as well as account takeovers based on traditional identity theft.
The more that is known about consumers – offline, online and via their devices – the more effective and less risky consumer interactions can be.
Watch the on-demand webinar to learn how to:
- Adopt a more integrated view of consumer identity in authentication processes
- Prevent costly bust-out fraud losses
- Stop synthetic identity fraud