The key to success: A multi-phase approach is best - one that encompasses identity verification and big data for fraud mitigation.
Join this session with Equifax Identity Fraud experts to learn more about:
How the right "big data" helps identify applicants;
When to apply more detailed authentication to uncover fraud;
How to meet and exceed regulatory mandates to create a robust fraud mitigation process.
Trends in fraud management have evolved as more business has moved online, where the applicant can easily hide under a stolen or made-up identity. Now it's time to move beyond chasing after the fact to preventing fraud before it happens.
Equifax has extensive experience working in the financial sector and with major government agencies to help identify fraudulent applicants before they get in the front door. Working across verticals means that lessons from each are combined to create a complete view of fraud behavior and best practices for combating it.
In this session, Ryan Fox, Principal in Equifax Identity and Fraud Solutions consulting group, will review implementations across federal agencies built from analytic models that serve to successfully prevent fraud in the financial, e-retail and telecommunications space. These sophisticated analytics assess the likelihood of fraud through extensive matching within proprietary data sources, and assessment of network activity associated with that identity.
He'll be joined by Rich Huffman, Senior Product Manager for Fraud, discussing best practices in fraud mitigation that result in a tiered process. Among the core elements to be discussed:
Focus on prevention measures, including identity proofing that uses a broad range of data elements to verify the applicant's identity;
Gauge the risk profile of the device used to interact with the institution;
Review information within a channel, across channels and between internal and external sources;
Reduce portal abandonment rate by limiting intrusive procedures to high-risk applicants;
Comply with appropriate regulations and industry guidelines;
Fox is a Principal within Equifax's Consulting Practice. In this role, Mr. Fox oversees the design and delivery of complex Identity and Fraud solutions for clients across both the private and public sectors. He has over 10 years of experience in a broad range of information technology and programmatic services. Prior to joining Equifax, Mr. Fox was a Lead Associate with Booz Allen Hamilton, leading a group of Identity and Access Management (IdAM) experts in providing solution strategy, design, architecture, and implementation services across the Federal Government.
Senior Director - Product Management, Equifax
Huffman is Sr. Director of Product Management for Equifax. He is responsible for driving the market strategy for Equifax's portfolio of ID Verification and Authentication products. He brings over 17 years of experience in product management to Equifax. He is an expert in using ID verification and authentication technologies in addressing Red Flag and other compliance concerns for online payment related activities.