Cifas’ Post

Thanks Cifas for sharing. Cross industry collaboration is one of the most effective things we can do to fight fraud, yet many businesses continue to try and do it on their own. I’ll be at the Fraud Leaders' Summit in London this week, I’d love to discuss this topic further with any of you that will be there too. Let’s #collaborate 👋 #fraud #identityfraud #sharedintelligence #onboardingintelligence GBG Plc

The unpredictable nature of evolving technology being deployed by fraudsters has placed an emphasis on building a more accurate picture of trust with customers at first contact. 💻 Fraud Consortiums like GBG's Trust Network allows organisations to establish that transparency a way which is compliant and easy to deploy, ultimately achieving more robust and informed onboarding decisioning. An Insightful Opinion Piece and summary of the imminent need for cross-sector collaboration from Gus Tomlinson 💡

Organisations getting better at spotting identity fraud 👀 Thanks to the adoption of more advanced monitoring tools and software, assistance from artificial intelligence and automation, organisations are proving they are more than capable of addressing the increasing identity fraud issue. But as fraudsters explore new sophisticated and convincing tactics organisations need to keep up with new approaches and strategies for detecting identity fraud. Read more at https://lnkd.in/eGtHvAAe

"Identity fraud has reached epidemic proportions. It’s estimated that there is a new victim of identity theft every 22 seconds". It's vital to make sure you have accurate data to confirm/validate identity, Digital Segment, LLC can help with our high quality data sources. #identityfraud #identityverification #data #identityvalidation https://lnkd.in/gPVfunEn

Financial identity fraud has become a significant concern for customers and fraud executives alike, especially with regard to synthetic identity theft. This sophisticated type of fraud poses a serious threat to the financial services sector by fusing real and fake details with valid identification information. The fight against fraudulent activities is made more complex by the deep fake technology that is developing so quickly, further complicating problems. Creative solutions are rising to the occasion in response to this changing threat landscape. Plaid Identity Verification is one such solution; it uses a complex network to quickly verify identities using techniques like selfie verification and accessing more than 16,000 identity data sources. Plaid Beacon also presents an anti-fraud network that allows enterprises to cooperate and exchange critical identity information. The battle against financial identity fraud is far from ended, notwithstanding these developments. Given the ongoing advancements in deep fake technologies, the financial services sector needs to be especially watchful and aggressive in putting strong identity verification mechanisms in place. The ongoing conflict between verification systems and scammers highlights the industry's need for continuous innovation and cooperation. Through innovation and state-of-the-art technology, companies may better safeguard themselves and their clients against the ubiquitous threat of financial identity fraud. #FinancialFraud #IdentityTheft #Cybersecurity #FinancialServices #FraudPrevention #SyntheticIdentityTheft #DeepFakes #EvolvingThreats #FraudulentActivity

Great opinion piece from Gus Tomlinson here on the importance of cross-sector collaboration in the fight against fraud. 💡 Did you know we have over 600 businesses across 24 sectors contributing to GBG Trust? We've seen amazing results from customers that have identified fraudsters from insight they would have never got by themselves. The power of an identity network in establishing Trust with your customers is business-critical 💪 GBG Plc #trust #identityfraud #fraud #protect

When it seems so obvious…why then is it taking so long to act? Intelligence sharing is my no 1 recommendation to combat fraud. A slight tweak to a well known saying…”a problem not shared is a problem doubled” #fraud #identity #onboardingintelligence #gbg #network #identityintelligence

Our new Identity & Fraud Report found that nearly 60% of businesses are already emphasizing or are looking to build machine learning capabilities into their #fraud identification and prevention strategies. Learn more: https://bit.ly/3Ox3Mk6 #fraudtrends #fraudprevention #identity