This is a 90-minute webinar.
10:00 am – 11:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Synthetic Identity Fraud sounds like the title of a B-rated science fiction movie. Unfortunately, it’s all too real and a fast-growing crime with wide ranging implications and a myriad of victims. Can you spot it – and more importantly, can you mitigate it?
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Define synthetic identity fraud
- Distinguish “traditional” identity theft from synthetic identity theft for policies and procedures
- Understand the red flags that may indicate potential synthetic identities
- Use provided tools and resources to mitigate fraud
- Provide best-practice educational materials to accountholders
Synthetic identity fraud is one of the fastest-growing financial crimes in America. Synthetic identities can be used to obtain a fraudulent loan or credit card or open a deposit account with debit card and mobile access. And because the information used to create these identities doesn’t stem from just one source, they are that much more difficult to detect. This can lead to significant losses for your accountholders and financial institution.
This session will weed through the differing definitions of synthetic identity fraud and use the industry-recommended meaning that was recently released. It will review examples of this rising financial fraud and provide red flags to add to your current identity theft prevention program. Resources will be provided to assist in mitigating risk, including tools to use at account opening to enhance your due diligence and identity verification process.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative session is designed for identity theft prevention officers, compliance officers, BSA/AML officers, and branch managers.
- New account due diligence form
- Identity theft red flag alert form
- Identity theft risk assessment updated for synthetic identity fraud
- PDF copy of the slides
- Employee training log
- Interactive quiz
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NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.