Stewart Title’s Post

I found this blog post from Greg McDonough, for RSA Conference, on 'The Rise of Synthetic Identity Theft' to be super interesting! Synthetic identity fraud is on the rise, posing a significant threat to financial institutions and consumers alike. As credit products become more accessible, so do the opportunities for bad actors to exploit vulnerabilities in the system. In this blog, Greg breaks down the complexities of synthetic identity fraud, from the tactics used by fraudsters to the cutting-edge technologies being deployed to combat their efforts. I fully recommend reading the full article, linked below, and I can’t wait to keep updated on all the other blogs to come from RSA in the lead up to the conference this year! #SyntheticIdentityFraud #FraudPrevention #RSAconference #RSA2024  Harry Baldwin, Daisy Steel, Connie Everett, Tom Wilding

Fraud in the Modern Era – Legal Challenges and Responses In today's interconnected world, fraud has evolved to become more sophisticated and prevalent than ever before. Responses to fraudulent activities are critical to safeguarding individuals, businesses, and governments against the detrimental effects of fraudulent schemes. From online scams and identity theft to financial fraud and phishing schemes, the digital age has provided perpetrators with new ways to exploit vulnerabilities and deceive unsuspecting victims. It is imperative for legal systems to adapt and respond effectively to combat these challenges presented by modern fraud tactics.The Evolution of Fraudulent Practices Historical Perspective Fraudulent activities have been present throughout human history, adapting and evolving alongside societal changes. From counterfeit currency in ancient civilizations to more complex Ponzi schemes in the modern era, the art of deception has seen various forms. In the past, fraudulent practices were often limited by geographical boundaries and communication constraints, mak... #combatingfraud #Fraud #fraudprotection #FraudulentActivities #Legal #legaladviceonfraud #LegalChallenges #legalinsights #legalresponses #modernfraud #Responses #safeguardingstrategies #sophisticatedscams

While consumers listed identity theft as their top concern when conducting activities online, they're still interacting, opening new accounts, and transacting digitally.4 Coupled with the rise of account takeover fraud and associated losses, it's more crucial than ever for organizations to accurately detect and prevent these attacks

While consumers listed identity theft as their top concern when conducting activities online, they're still interacting, opening new accounts, and transacting digitally.4 Coupled with the rise of account takeover fraud and associated losses, it's more crucial than ever for organizations to accurately detect and prevent these attacks

While consumers listed identity theft as their top concern when conducting activities online, they're still interacting, opening new accounts, and transacting digitally.4 Coupled with the rise of account takeover fraud and associated losses, it's more crucial than ever for organizations to accurately detect and prevent these attacks

Deepfake Digital Identity Fraud Surges Tenfold, Sumsub Report Finds: AI-powered tools are among the top fraud techniques used by threat actors in 2023, according to Sumsub’s third annual Identity Fraud Report

Fraud threat 1: Synthetic identity fraud will surge 📈 Experian predicts that synthetic identities will be harder to detect, making it crucial for businesses to collaborate closely with their fraud-prevention partners. Read our 2024 Future of Fraud Forecast to learn about other fraud threats: https://bit.ly/48n2TRv

Synthetic identity fraud is on the rise, hitting $3.1 billion in 2023, up from $1.9 million in 2020. This type of fraud involves creating fake identities using a mix of real and fake information to access credit and financial products. How can you help protect your organization? Find out more here:

Sigma Synthetic Fraud v4 uncovers multiplex synthetic-specific features: Socure has launched Sigma Synthetic Fraud v4. The product uses advanced machine learning and diverse, third-party and network feedback data to uncover patterns linked to insidious synthetic identity fraud. The Deloitte Center for Financial Services expects synthetic identity fraud to generate at least $23 billion in losses by 2030. Synthetic identity fraud is a financial crime where a real person’s information is stolen and combined with other falsified personal information to create a fictitious identity, … More → The post Sigma Synthetic Fraud v4 uncovers multiplex synthetic-specific features appeared first on Help Net Security.

Green Dot Corporation is one of the founding members of Socure's First-Party Fraud Consortium (FPFC), along with SoFi, Varo Bank, Ingo Payments, Dave, and Public, amongst others, totaling over 50 million active accounts. So what is first party fraud? "First-party fraud is committed by individuals who use their own identity to perpetrate dishonest acts for financial gain. The use of their own identities—with accurate credentials—makes first-party fraud much harder to prevent than identity fraud associated with stolen, manipulated or fabricated synthetic identities. These fraudsters are succeeding to the tune of billions of dollars, with annual first-party fraud losses in the U.S. alone totaling more than $100 billion, according to Socure's research." #fraud #firstpartyfraud #identity #syntheticidentity #fakefakefake https://lnkd.in/gUyEcU6C