There is an undeniable threat of increased synthetic identity fraud across many industries now, and U.S.-based financial services firms remain a key target of these attacks. According to recent research conducted by Aite Group, 72% of the financial services firms surveyed believe that synthetic identities are a much more challenging issue to identify and address than identity theft.

Synthetic fraud detection and intervention is likely to get more difficult as digital fraud tactics increase in sophistication — but recent progress made by many financial institutions suggests that with purposeful strategies and the right technology, the risks of synthetic fraud can be mitigated significantly without sacrificing the customer experience.

In this webinar, fraud experts from TransUnion and Aite Group will discuss:

• The current state of synthetic identity fraud, from the main challenges businesses face to a close look at sustained losses
• How COVID-19’s impact on consumer credit led to some surprising trends in synthetic fraud volumes
• Expert-recommended process adjustments and tech investments for execs looking to reduce their synthetic fraud instances in 2021