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.
To enhance the identity verification process, GIACT Systems — the leader in helping companies positively identify and authenticate customers — released a new white paper, Threat of Synthetic Identity Fraud for Carriers and Policyholders.
In this white paper you’ll learn:
- Learn the many ways fraud is accomplished and what security measures may stem the flow of SIF losses
- Discover how fraudsters skillfully maneuver through gaps in the insurance application process
- Best Practices to prevent synthetic identity fraud