Mitigation Methods for Synthetic Identities

Learning Objectives

• To examine tools for mitigation of synthetic identity theft.
• To discuss SOCURE’s 10-step mitigation process.
• To explore what you can do when you fall victim to synthetic ID theft.
• To identify other identity theft solutions.

Course Description

Are you concerned about fraud risks and want to learn more about the latest fraud trends? Look no further than our Five-Course Series on Fraud Trends for the Future. The series focuses on the evolving tactics used by fraudsters and how to mitigate the risks associated with them. The initial segment of this series will focus on fraud trends that have been identified for 2023 and beyond. Broadly, these trends include:

• Automation
• Account Takeover
• Adoption of new digital payment methods
• Balancing fraud and consumer Friction
• Rise of synthetic identities
• The escalating cost of fraud
• Targeted attacks
• Strong need for real-time assessment
• Need for multi-layered fraud assessment
• Account Security

In the first four courses of our Fraud Trends for the Future series, we have explored various types of fraud and their associated risks. From automation and machine learning fraud to account takeover and digital payments, we have delved into the complexities of financial crimes and the challenges they pose to organizations. Our fourth course focused on synthetic identity fraud, where fraudsters use a combination of real and fake personal information to create fake identities for fraudulent activities.

This fifth and final course is dedicated to the mitigation methods for synthetic identity fraud. In this webinar, we will examine the tools and techniques available to prevent and mitigate the risks of synthetic identity theft. We will explore SOCURE's 10-step mitigation process, identify other identity theft solutions, and discuss what you can do if you fall victim to synthetic ID theft. By the end of this Information Technology course, you will have a comprehensive understanding of the mitigation methods for synthetic identity fraud and be equipped with the knowledge to protect yourself and your organization from this type of financial crime.

Overview

• Federal reserve toolkit

  10 mins
• Fraud Shield

  19 mins
• Secure your ID

  31 mins
• Manipulated and fabricated IDs

  42 mins
• SOCURE 10 Steps

  52 mins
• What to do if you fall victim

  68 mins