It’s here…randomized Social Security numbers
It’s official. As of June 25th, the Social Security Administration (SSA) is now issuing Social Security numbers (SSNs) using a random selection process. Since November 1936 when the first SSN was...
View ArticleFFIEC issues supplement to 2005 guidance on Internet banking security
Today, the Federal Financial Institutions Examinations Council (FFIEC) released its long awaited supplement to its October 2005 guidance on authentication in an Internet banking environment. The...
View ArticleID ANALYTICS UNCOVERS MORE THAN 10,000 IDENTITY FRAUD RINGS IN THE U.S.
New Study from ID Analytics’ ID:A Labs Finds Identity Fraud Rings Target Bankcard, Wireless and Retail Card Industries There are more than 10,000 identity fraud rings in the U.S. according to a new...
View ArticleSynthetic Identity Fraud: Part Two, The Evolving Threat
In our previous blog we discussed the significant problem of synthetic identity fraud and established that ‘symptom’ solutions, which help detect and address some forms of synthetic fraud, are not...
View ArticleFraud Risk Management in the Data Breach Era
Fraudsters are incredibly adept at changing tactics, making fraud risk management challenging. To further complicate this, several fraud trends have emerged over the past few years. According to...
View ArticleUpdate from the Hill: Identity Theft Protection via Free Credit Report Freezes
My recent updates from the Hill have focused on identity fraud protection elements in the Economic Growth, Regulatory Relief, and Consumer Protection Act, that goes into effect this month. In this...
View ArticleCredit risk or hot prospect? Millennials and back-to-school credit
In 2015, ID Analytics released a report Millennials: High Risk or Untapped Opportunity which debunked the myth that millennials are less interested in traditional credit and financial services than...
View ArticleSynthetic Identities: Part Three, A Fraud vs. Credit Risk Perspective
Our previous posts examined the different types of synthetic identity fraud, including manipulated and manufactured, which vary in construction, intent and degree of financial harm. Part three of our...
View ArticleCombatting synthetic identities: Finding the ghosts haunting your enterprise
There’s a ghost in the room—synthetic identity fraud—and unlike the elephant, everybody’s talking about it and not sure what to do about it. Our recent blog series provided an overview of the different...
View ArticleTop 3 questions from our web seminar: Tackling synthetic identity fraud head-on
ID Analytics recently participated in a web seminar hosted by American Banker, Tackling synthetic identity fraud head-on where we discussed best practices for optimizing detection and prevention...
View ArticleBlack Friday trends report: Increased credit application volumes put risk...
It’s that time of year again. Retail stores are advertising their Black Friday specials with many starting their sales even earlier, prompting some to refer to this popular shopping frenzy to grab deep...
View ArticleBlack Friday 2018: No more early birds & retail credit applications on the rise
Black Friday 2018 saw slower foot traffic in retail stores than in years past, but that didn’t mean merchandise wasn’t flying off the shelves—online sales hit a record high with shoppers spending $6.22...
View ArticleCyber Monday 2018: Late night credit applications and mobile purchasing are...
In our last post, we shared new trends developing in 2018 that transformed the traditional Black Friday kick-off to holiday shopping. Specifically, online purchasing was a popular choice for many Black...
View ArticleA word from our CEO: 2018 year in review and a preview of 2019
ID Analytics had a lot to be thankful for in 2018. First, I want to thank our clients for their unwavering support and for the valuable advice throughout the year which helped us shape our strategy and...
View ArticleUpdate from the Hill: Progress in the fight against identity fraud
Since my last update, I’ve been following progress on the Economic Growth, Regulatory Relief, and Consumer Protection Act. As a refresher, this Act contains a provision that directs the Social Security...
View ArticleUpdate from the Hill: Unintended consequences of the CA Consumer Privacy Act
The California Consumer Privacy Act (CCPA) of 2018 is another regulation our compliance team has been keeping tabs on. The Act was signed into law by then California Governor Jerry Brown on June 28,...
View ArticleFraud, credit and identity risk: What to watch for in 2019
What does 2019 have in store for those of us who work in the fields of fraud, credit and identity risk? These are some of the key issues ID Analytics will be following and actively working to address....
View ArticleAn analysis of synthetic identities from a fraud and credit risk perspective
One of the most sophisticated synthetic identity fraud rings in U.S. history created 7,000 new identities, received 25,000 credit cards and amassed a $200 million bounty from banks between 2003 and...
View ArticleSynthetic identities: How well are you reading the signals?
For some lenders and service providers detecting synthetic identities might seem like an exercise in futility or perhaps even a lesson in fortune telling—how can they determine whether an applicant...
View ArticleAlternative credit data case study: Top-ten card issuer uncovers credit...
Almost one-fifth of adults in the United States face obstacles to obtaining credit because they are considered “credit invisible”—meaning they either don’t have a credit history with, or are treated as...
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