Fraud Management & Cybercrime , Fraud Risk Management , ID Fraud
Strategies for Fighting Synthetic ID FraudPeople’s United Bank’s Karen Boyer on Using Consumers' Devices for Authentication
To mitigate the fraud risks posed by synthetic IDs, banks should use consumers' devices to help with authentication, says Karen Boyer, vice president, financial crimes and fraud intelligence, at People’s United Bank, based in Connecticut.
See Also: OnDemand | Understanding Human Behavior: Tackling Retail's ATO & Fraud Prevention Challenge
“The device of a consumer can give out information beyond just geolocation," she says. "There is the ability to tell if you are signing on using an emulator. There are technologies for bot detection to check the speed of your typing.”
In a video interview with Information Security Media Group, Boyer also discusses:
- How synthetic ID fraud has evolved;
- New technologies to tackle synthetic ID fraud;
- How application fraud and synthetic ID fraud differ.
Boyer is vice president, financial crimes and fraud intelligence, at People’s United Bank, a regional bank in the Northeast with a network of nearly 400 locations. She has more than 20 years of diverse banking experience, specializing in fighting fraud.