Synthetic Identity Fraud Detection and Prevention: Best Practices for Companies
Synthetic identity fraud remains to be a vexing problem for many financial institutions and organizations today. With its widespread impact and continuing proliferation, it is considered one of the fastest-growing types of financial crimes in the U.S. Significantly, without a comprehensive understanding of synthetic identity fraud, detection can become an increasingly difficult task. Although banks and other companies have been investing in technologies that offer help, financial crimes continue to surface, chiefly due to the lack of solutions that focus on detection and prevention.
To address the growing problem of synthetic identity fraud, banks and other financial institutions must integrate an effective and advanced platform that will cater to fraud detection and prevention while being aware of its scope and scale.
In this LIVE webcast, a seasoned panel of thought leaders and professionals brought together by The Knowledge Group will provide the audience with an in-depth analysis of the recent developments in synthetic identity fraud. Speakers will present a comprehensive discussion of emerging threats and provide best practices for detection and risk mitigation.
Key topics included:
- Overview of Synthetic Identity Fraud
- Trends, Statistics, and Characteristics
- Synthetic Identity Fraud in the U.S. Payment Systems
- Risks and Challenges
- Best Practices in Detecting Synthetic Identity Fraud
Paige Schaffer, CEO, Global Identity and Cyber Protection Services
Generali Global Assistance
Greg Saunders, Senior Vice President, Cyber & Intelligence Solutions
- Synthetic Identity Fraud in the U.S. Payment Systems:
- Risks of synthetic identity fraud for both the consumer and the financial institution
- Specific challenges financial institutions face when addressing synthetic identity theft
- How can financial institutions mitigate their risk (technology, monitoring, etc.)?
- Tips for consumers on mitigating their risk (red flags, monitoring technology, etc.)
Bruno Domingues, Principal Architect
- The Impact of Synthetic Identity Fraud for Enterprises:
- Detection and common red flags enterprises should be aware of
- How are enterprises tackling the issue of synthetic identity fraud
- Specific challenges enterprises face when addressing synthetic identity fraud
- Best practices in detecting & mitigating synthetic identity fraud risks for enterprises
Shameka Walker, Senior Attorney
Federal Trade Commission
- Identity Theft Trends and Resources for Victims
- General identity theft trends
- Resources for identity theft/fraud victims
Who Should Attend:
- Chief Information Officers
- Chief Information Security Officers
- Chief Privacy Officers
- Fraud Monitoring Officers
- Human Resource Information System Managers
- IT Risk Analysts
- IT Audit Officers
- Data Privacy Officers
- Legal and Compliance Professionals
- CEOs and Directors
(Moderator) Generali Global Assistance
Paige Schaffer is CEO of Global Identity and Cyber Protection services for Generali Global Assistance (GGA). She has been with the company since 2007. She currently sits on two boards and leverages her business acumen in the field to offer GGA solutions to organizations that can provide their customers with a service and experience that brings peace of mind. Ms. Schaffer serves as a voice for the industry advocating for the protection of customers and providing guidance on how to best protect their identities both physically and digitally.
Paige Schaffer is CEO of Global Identity and Cyber Protection services for Generali Global Assistance (GGA). She has been with …
Bruno Domingues is currently leading the Cloud Computing and Digital Edge strategy for Financial Service Industry in Sales and Market Group (SMG). He is responsible for initiating, evaluating, and managing strategic business opportunities, partnerships, and alliances in these areas. His goals are to launch effective initiatives in FSI through OEMs, SIs, ISVs, and CSPs to drive market adoption by developing and executing global go-to-market plans.
Mr. Bruno served as chairman of the IEEE Computer Society (R9), CMG Technical Director and is an active member of standardization groups. Mr. Bruno is actively involved in multiples projects and initiatives about multi-cloud adoption in FSI and represents Intel on several foruns worldwide. Recently, Mr. Bruno is researching the impact of digital transformation in financial services with an emphasis on Data Protection & Privacy practices and technologies, e.g., ML Interpretability, usage of biometric authentication, privacy-preserving ML, social bias, confidential computing, and compliance-aC.
Mr. Bruno holds a degree in Mathematics. He has been working in the Financial Services Industry since 1998. Mr. Bruno resides in Portland, Oregon, USA.
Bruno Domingues is currently leading the Cloud Computing and Digital Edge strategy for Financial Service Industry in Sales and Market …
Greg Saunders has 15 years of experience creating products for Mastercard’s Issuers, Merchants, and Cardholders. Currently he manages a Global Product team within the Cyber & Intelligence Division offering products supporting the industry’s transition into the digital age such as device level spend controls, automated updates on payment cards saved with merchants by consumers, and securing the data exchanged in digital transactions.
Greg Saunders has 15 years of experience creating products for Mastercard’s Issuers, Merchants, and Cardholders. Currently he manages a Global …
Shameka Walker is a Senior Attorney at the Federal Trade Commission in the Bureau of Consumer Protection, currently on detail from the Division of Privacy and Identity Protection to the Division of Consumer and Business Education, where she serves as the Identity Theft Program Manager. During her time at the Commission, Ms. Walker has been involved in investigating and litigating consumer protection cases involving data security, privacy, work-at-home scams, and telemarketing fraud. Ms. Walker received her J.D. from Cornell University where she was a Note Editor on the Cornell Journal of Law and Public Policy. She received her B.A. from the University of Miami.
Shameka Walker is a Senior Attorney at the Federal Trade Commission in the Bureau of Consumer Protection, currently on detail …
Print and review course materials
Method of Presentation:
On-demand Webcast; Group-Internet Based
General knowledge of identity theft
NASBA Field of Study:
Information Technology – Technical
NY Category of CLE Credit:
Areas of Professional Practice
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About Generali Global Assistance
Generali Global Assistance (GGA), a division of the multinational Generali Group, has been helping people for over 50 years, with roots that run deep in the assistance and insurance industries. GGA was one of the first companies to provide identity theft resolution services in the United States and is now the identity protection engine behind some of the biggest names in the financial and insurance industries. Leveraging our global footprint, today we proudly offer identity protection services internationally, helping to protect millions from the relentless identity theft threat that knows no geographical bounds.
About Intel Corporation
Intel was founded in 1968, and its technology has been at the heart of computing breakthroughs ever since. More than 50 years later, Intel is the world leader in the design and manufacturing of essential technologies that power the cloud and an increasingly smart connected world. Intel is transforming from a PC-centric company to a data-centric company, with workload-optimized solutions designed to help a broad set of customers process, move, and store ever-increasing amounts of data.
Mastercard, www.mastercard.com, is a technology company in the global payments industry. Mastercasrd’s global payments processing network connects consumers, financial institutions, merchants, governments, and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business, and managing finances – easier, more secure, and more efficient for everyone.
About Federal Trade Commission
The Federal Trade Commission (FTC) is a national consumer protection agency. Its mission is to prevent deceptive and unfair business practices through law enforcement, advocacy, and education. The FTC’s IdentityTheft.gov serves as a one-stop resource for identity theft victims to report and recover from identity theft.