I think it’s really a must-attend event for CX professionals. I’ve gone to other events in the past and this surpasses all of them.
Strategies to Predict and Combat
the Increasing Threat of Synthetic Identity Fraud
March 23rd 2023, 10 AM – 11 AM CT, Successfully Held
Here’s what we discussed:
It is more important than ever for financial institutions to stay vigilant in their efforts to predict and combat fraud.
With war in Ukraine, continued inflation, and the potential of a recession still looming, the economic outlook is murky at best. And we know that during times of economic uncertainty, individuals and organizations are more likely to engage in fraudulent activities for three primary reasons: increased financial pressure, increased opportunity, and increased rationalization that it’s OK to commit fraud. In fact, online fraud increased by 87.5% in the 12 months following the start of the Great Recession.
Identity theft is already on the rise. A record 49.1 million Americans were victims of identity-related fraud in 2021 (the most recent data available), which is a 113% increase over the previous year. And even the most sophisticated organizations are not immune – Apple, Meta, Twitter, and even the password vault LastPass have all disclosed cybersecurity attacks in the past 12 months.
The theft and sale of stolen identities fuels synthetic identity fraud, in which fraudsters create a new identity using a combination of real and fake information, often involving the SSN of a child or senior. The Federal Reserve calls this the fastest-growing financial crime, and the Aite Group expects synthetic identity fraud losses to cost lenders $2.42 billion this year.
In this peer-driven executive roundtable, participants received insights and discussion about:
- New and growing threat vectors
- Why fraudsters continue to perpetrate synthetic ID fraud, and the impacts to financial institutions and fintechs
- How to safeguard your operations from the growing threat of synthetic ID fraud
Director of Financial Services & Payments at Ekata
Ian Li is a Director of Financial Services & Payments at Ekata. In his role, Ian works directly with Ekata’s largest customers across banking and fintech to help them leverage Ekata’s data to improve their onboarding processes and reduce risk and fraud. Ekata, a Mastercard company, currently has over 2,000 customers globally, including companies like Experian, Klarna, Coinmama, and many more.
Participation in the Virtual Roundtable is free of charge to qualified attendees. Once you’ve completed the registration, we’ll confirm your invitation and send you a calendar invite with a link to the meeting.
If you don’t qualify, we’ll suggest other learning events that may be a better fit for you.
Talk To Us About Attending Future Events
Here’s what attendees at past events have said:
A lot of other conferences I’ve gone to are driven off a podium, someone presenting me a solution before they understand my problem. Here I have an opportunity to talk to my peers and learn from them.
I’m not part of some enormous crowd out there. I’m getting lot of interaction, hearing from people, their own personal stories. Individual examples of how people are leveraging their CX skills in their industry, in their business, in the work that they do everyday.
Very intimate, Very one-on-one! You are able to really get a lot of candid responses, so we’re getting a ton of value from that and a lot of valuable insights.