Synthetic Identity Fraud: Detection, Prevention, and the Evolving Threat Landscape

Event Description

Synthetic identity fraud has become one of the most insidious and costly forms of financial crime, responsible for billions in losses annually across the banking industry. Unlike traditional identity theft, synthetic fraud combines real and fictitious information to create entirely new personas that can pass through onboarding, credit checks, and authentication processes undetected — often for months or even years before losses are realized.

This webinar will dive into how synthetic identities are created, the tactics fraudsters use to build credit histories and avoid detection, and what your institution can do to fight back. We’ll explore the limitations of traditional KYC/AML controls, review real-world case studies, and outline proven methods for identifying and shutting down synthetic activity before it leads to fraud losses or compliance risk.

Key Takeaways:

• Understand what synthetic identity fraud is and how it differs from traditional identity theft.

• Learn the life cycle of a synthetic identity — from creation to monetization.

• Identify red flags in account applications, credit patterns, and transactional behavior.

• Explore tools and techniques such as consortium data, device intelligence, and behavioral analytics.

• Get actionable recommendations for tightening onboarding protocols and improving detection across product lines.