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Best of BAI Beacon: Identity Theft - The Rise in Synthetic Fraud

RECORDING: January 26, 2017
TIME: 1:00 - 2:00 PM CT

Identity theft continues to be a growing concern for financial institutions large and small, but authorities say there is a new twist on an old problem - synthetic identity fraud. It is more prevalent today because with the switch to chip cards, fraud at the point of sale is hard to commit.  As such, “card-not-present” fraud online and new account application fraud is on the rise with synthetic identity as the common denominator in each case. Indeed, some reports say that synthetic identity fraud now accounts for 85% of all identity fraud in the United States, costing an estimated $2 billion a year. 

In this complimentary BAI webinar, you’ll hear from a highly rated industry expert from BAI Beacon, who will share his insights on: 

  • Research on the implications for mid-sized and smaller banking providers
  • Insights on identification and prevention
  • Best opportunities to retain the customer experience advantage

Your Presenter






Colin Carvey
Vice President, Identity Solutions
TransUnion

Colin Carvey oversees business development, operations support and the creation and delivery of products that use analytics to help complex organizations quickly discern good customers and transactions from the bad. He has over 20 years of experience at scale lenders, including HSBC and Capital One. He enjoys and is adept at analyzing and understanding the complexities of fraud management.

Carvey’s experience ranges from loss mitigation to customer acquisition to creative design. In addition to his breadth of knowledge of complex financial services organizations, he brings a creative lens to challenges and has returned millions of dollars to top and bottom-line growth. Carvey serves on the board of the Portland, Oregon chapter of Junior Achievement.