As organizations get better at fending off point-of-sale fraud tactics, fraudsters are switching their focus to new-account fraud. They often employ synthetic ID fraud, which is often created with a combination of real data and fabricated information. Fortunately, organizations can leverage robust and reliable countermeasures to synthetic ID fraud. These solutions can help quickly, reliably and affordably identify suspicious activity to help mitigate risk without unnecessary checks on legitimate consumers. For example, analytics-based solutions can deliver insights that detect linkages and suspicious patterns, which help determine if the applicant is a real person. This white paper examines best practices for battling this predominant fraudster tactic.
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