Browsing: Fraud

Compliance and Risk

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 updated its toolkit of resources to help banks and consumers mitigate risks associated with these types of fraud.

Newsbytes

The FDIC and the Financial Crimes Enforcement Network recognized three teams for excellence in a recent “tech sprint” to develop solutions for banks and regulators to help measure the effectiveness of digital identity proofing—the process used to collect, validate and verify information about a person.

Compliance and Risk

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.

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