How Businesses Balance Convenience and Digital Security

First, the good news: digital commerce is living up to its promise. Consider these numbers: 52% of all e-commerce traffic globally is from a mobile device[1] While 31% of orders are placed on mobile devices, 40% of traffic from buyers is on a mobile device[2] 53% of smartphone users are actively using mobile banking[3] So, [Read More…]

Synthetic ID Fraud: Understand It, So You Can Stop It

Communications, Energy, Digital Media Providers Face New Challenges Online and mobile-based platforms are changing how fraudsters operate. These faceless channels have enabled them to move past simple point-of-sale transactions involving stolen credit cards or stolen identities. Now fraudsters use more sophisticated schemes involving synthetic identity (ID) fraud to exploit stolen products, services, and money for [Read More…]

Don’t Let Big Data Hinder Your Business

You have a lot of customer data — housed in a lot of different locations. You’re working hard to make sense of it so you can better understand your customers and advance your business. You’ve set objectives for how to use it, hired data engineers and data scientists, and even written algorithms. So…how’s all that [Read More…]

Is This New Type of Fraud Costing You Millions?

Much of the identity fraud we hear about is based on completely fictional, made-up identities. Synthetic ID fraud is different. It’s when a fraudster pieces together bits and pieces of real identities—a date of birth from one person, a social security number from another person, and so on—to build a complete identity. This “synthetic” identity [Read More…]

When It Comes to Digital Identity, the Sum is Greater than its Parts. Three Key Ingredients for Comprehensive Digital Identity.

Three Key Ingredients for Comprehensive Digital Identity Every day, consumers perform tasks using digital devices. Scheduling dinner with friends. Ordering birthday gifts. Checking bank balances. And, for each activity, they must confirm their identity. Yet unlike pulling a driver’s license out of a wallet, today’s consumers have a digital identity – a compendium of user [Read More…]

Best Practices for Fighting Synthetic Identity Fraud

Synthetic identity fraud is a well-organized activity of fraud rings looking for ways to create and then nurture fake identities over a long period of time. Fraudsters can build a synthetic identity by creating a fake SSN or obtaining/stealing a real Social Security number (SSN) and adding non-matching identifying information such as name, date of [Read More…]

The Impact of Synthetic Identity Fraud… By the Numbers

What is synthetic identity fraud? Synthetic identity fraud occurs when fraudsters create new, fictitious identities by using different components of real identities – such as a name from one person, an address from another place, or the Social Security number (SSN) of a minor or deceased individual.  Fraudsters attempt to gain credit with the fictitious [Read More…]

SPOTLIGHT: Neural Networks for Next Level Performance

Data Scientists: Do you love the new machine learning techniques but still can’t wrap your head around how to explain your results? Have you been wondering how to use the latest machine learning techniques to generate better scores and increase the profitability for your organization? There is now a way to do this, while still [Read More…]

How Fraudsters Are Using Synthetic Identities

Pathways to Synthetic Identity Fraud Fabricated social security numbers (SSNs) and authorized user abuse are the two main pathways into synthetic identity fraud.  Fraudsters can build synthetic identities by creating a fake SSN or obtaining/stealing a real SSN and adding non-matching identifying information such as name, date of birth, and address.  Perpetrators often prefer to [Read More…]