Keep informed, stay ahead
Webinar: Innovations in Identity Verification and Monitoring
Join GIACT’s David Barnhardt, Chief Experience Officer, for a webinar at 1 PM ET, Wednesday, April 1, that discusses innovations in identity verification monitoring.
GIACT® Issues Report on the Growing Global Threat and Sophistication of Business Email Compromise
The report also details the diverse ways in which BEC is being committed as well as how businesses can proactively validate account information using real-time, diverse data sets, before a potentially fraudulent payment is disbursed.
Business Email Compromise: A Global Threat
BEC – defined as a fraud tactic using email to socially engineer an employee to install malware or unwittingly transfer/redirect funds into a fraud operator’s account– is an increasingly sophisticated and difficult-to-spot fraud tactic. Today, losses related to BEC go beyond inattentive employees not paying attention; fraud operators are using malware and other tactics to hack into email servers to enhancetheir traps and their ability to social engineer and target their victims.
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.
Undeliverable As Addressed: The Staggering Cost of Returned Mail
The report highlights the volume of consumer change events and the difficulties associated with keeping up-to-date consumer profiles; the compliance issues that follow undeliverable as addressed items; as well as best practices for implementing a proactive identity monitoring approach to streamline compliance and drastically reduce the number of returns.
Insurance, White Papers,
Threat of Synthetic Identity Fraud for Carriers and Policyholders
Synthetic identity fraud (SIF) is one of the fastest-growing types of financial crime in the U.S. Insurers need to enhance their identity and account validation practices to identify and prevent SIF, protect customer accounts and mitigate losses.
Retail, White Papers,
Theft in the Age of Digital Retail
Unlike shoplifting, no security alarm goes off when identity fraud is committed. In the age of digital retail, particularly in a post-breach world where millions of identities have been exposed, that should alarm most retailers.