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NOW ON DEMAND
Duration:60 minutes
Abstract:
Many financial institutions are focusing on identity theft and account takeover while overlooking that a dramatic increase in credit losses points to a growing area of concern: first-party and synthetic identity fraud. As stated in Gartner’s report, “The Growing Problem of Synthetic Identity and First-Party Fraud Masquerades as Credit Losses,” "by 2021, first-party fraud and synthetic identity fraud will account for 40% of credit write-offs, up from an estimated 25% today.” What can you do to protect your company from credit-write offs while providing a seamless customer experience?
Join Bala Krishnamurthy, Chief Product Officer at iovation, a TransUnion Company and Brian Pramov, Certified Fraud Examiner and Senior Manager, Digital Fraud Strategy and Analysis at Ria Financial, as they share synthetic identity fraud trends, first-hand experiences and key learnings and solutions They will also dive into the importance of combining personal data and digital data to fight synthetic identity fraud and distinguish good customers from fraudsters.
Key Takeaways:
- Tips to examine behavior and uncover signs of synthetic identity fraud
- Lessons learned, a real-world walkthrough of how fraudsters commit synthetic fraud
- Solutions to detect and prevent synthetic identity fraud
*Gartner: Take a New Approach to Establishing and Sustaining Trust in Digital Identities, Tricia Phillips, Danny Luong, 1 March 2018.
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Speakers
Bala Krishnamuthy Chief Product Officer Iovation, a TransUnion Company Chief Product Officer, iovation, A TransUnion Company
Bala is a seasoned product executive and growth leader with proven track record of launching highly successful products and accelerating revenue growth. He also has extensive consulting experience that complement product expertise to deliver innovative game-changing solutions. These have made a significant impact on customers and delivered double-digit revenue growth year over year. Prior to joining iovation, Bala was Head of Product for TransUnion's IDVision suite of solutions. Under his guidance, TU’s IDVision solutions were recognized by Javelin as a 2017 Fraud and Identity Leader in Innovation. He has been a key part of multiple M&A initiatives at TransUnion including iovation. His focus is on delivering enhanced consumer experience, reducing fraud and increasing operational efficiencies.
Brian Pramov Certified Fraud Examiner and Senior Manager, Digital Fraud Strategy & Analysis Ria Financial
Brian Pramov is a Senior Manager of Digital Fraud Strategy & Analysis who works with executive management and outside vendors to better detect fraud patterns as they happen in real time. After working for over ten years in risk analytics, Brian has become a subject matter expert when it comes to using the right tools at the right time to detect and counter risk. It’s how well you know the fraud detection tools you are implementing that will give you that extra edge in identifying illicit accounts. Brian has supported fraud detection and implemented strategies for multiple companies over the past decade. He’s also trained multiple personnel across the globe on these fraud detection strategies and how to identify the patterns more quickly. Brian is a Certified Fraud Examiner and holds a Master degree in Business Intelligence from the University of Denver.
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Protect your Business from Synthetic Identity Fraud
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