Fraud & Risk
Should Merchants Care About Synthetic Identities?
Customer verification is often acknowledged as a significant risk mitigation challenge for online merchants. So-called synthetic identities, which include bogus names, addresses, phone numbers, etc., can be especially tricky to detect. This presentation includes background on why synthetic identity fraud is frequently difficult to identify, as well as insights on how to use data profiles to pinpoint synthetics. Several tips are included at the conclusion of the review in an effort to help merchants combat synthetic identity fraud.