As instances of synthetic identity fraud—through which fraudsters create new identities out of pieces of real or fictitious information—become more prevalent, the Federal Reserve this week released a toolkit to help banks and consumers mitigate risks associated with this type of fraud. The toolkit includes downloadable resources explaining the basics of synthetic identity fraud, how fraudsters use synthetic identities and how to identify synthetic identities. The Fed said it will add new resources to the toolkit in the future, including more on synthetic identity fraud detection and mitigation.
ABA, associations urge FCC to adopt outcome-based robocall scorecard
ABA joined other financial services associations to express strong support for the Federal Communications Commission’s proposed Robocall Mitigation Scorecard while recommending changes to ensure it provides consumers and businesses with meaningful information about voice service providers’ effectiveness in...
