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The conventional fail-safes for detecting fraudulent accounts are rarely effective when it comes to synthetic identity fraud. Real people won’t see activity on synthetic identity accounts created with their Social Security numbers because there aren’t any matching names or addresses to raise any red flags. If a bank’s security department calls with questions about suspicious activity, the fraudster will simply say the transactions are legitimate. So how can financial institutions and other lenders affordably mitigate the risks of synthetic identity fraud without encumbering legitimate customers with unnecessary checks and manual reviews?
Watch this on-demand educational webinar where our panel discusses:
Identity, Fraud & Compliance Product Line Leader
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