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White Paper: The Hidden Costs of Synthetic Identity Fraud
Synthetic identity fraud (SIF) schemes create identities out of real and fake personally identifiable information (PII). These schemes can be difficult to detect as they combine completely valid information with fictitious, yet established, e-mail and social media accounts, for example. For businesses that rely on static PII as a fraud stopgap, SIF accounts can be extremely difficult to spot and interdict. GIACT’s latest white paper highlights the emerging threats that synthetic identify fraud poses to businesses and consumers.
White Paper: The Evolution of New Account Fraud
New Account Fraud is growing in severity with an estimated 3.2 million consumers harmed in 2018 alone. Many organizations are unprepared to meet the challenge, and the impacts are being felt across a diverse range of industries from financial services and insurance to lending and utilities and others. GIACT has partnered with Javelin Strategy and Research on a new white paper exploring the evolution of NAF.
White Paper: Modernizing Account Validation
The need for effective Account Validation has never been more urgent, especially when considering the growth of ACH payments. As the speed, volume, and value of faster payments increase, Account Validation capabilities have become essential to the future viability of ACH payments. Learn the latest best practices in securing your Account Validation processes.
In case you missed it
In Battling Identity Fraud, Finding The (Synthetic ID) Devil Behind The Details
With the advent of chip cards in the United States, fraudsters have been looking for new avenues through which to continue their criminal enterprises. The data is out there now, more than ever before – and, as he said, all stakeholders need to be proactive in the battle.
GIACT and Advanced Fraud Solutions Announce Strategic Partnership
GIACT® Systems and Advanced Fraud Solutions (AFS) today announced a strategic partnership to enhance AFS’s TrueChecks® solution with GIACT’s EPIC Platform® The joint solution gives retailers and other billers the ability to verify account status and investigate any history of account fraud, prior to accepting payment in order to reduce returned items.
Infographic: The Growing Costs of Identity Fraud
The volume of fraud attempts and the cost-per-incident of losses have increased in recent years. According to Javelin Strategy & Research's, 15.4 million consumers in the U.S. were victims of identity theft in 2016 at an estimated cost of $16 billion.
The Changing Landscape of Identity Fraud
According to Javelin Strategy & Research's 2019 Identity Fraud Study, identity fraud remains at historically high levels despite the slight improvements. In this white paper, GIACT explores six key trends that show how fraud has changed in the past year and how it will shape the year ahead.
Digital On-Boarding: Safer, Smarter, and more Streamlined
In a financial services market where great customer experiences are central to competitive advantage, streamlined on-boarding is a must—whether it’s in-person, over the phone, or online. Lear about the latest best practices in digital on-boarding.
Streamlining KYC: Best Practices in the Collection and Processing of Beneficial Owners
The new FinCEN regulation is changing how financial institutions must collect data on Beneficial Owners of certain legal entity customers. Download this industry guide to learn how you can lower the costs of compliance.