Identity Fraud: What Can Enterprises Do to Better Fight it?
As a featured speaker at the TRMA 2016 Spring Conference, ID Analytics’ Raj Dasgupta will present best practices for minimizing identity-related fraud, helping victims of identity theft, and improving the processes that address these issues.
In today’s world, data breaches are rampant and they are only expected to increase. According to the 2015 ITRC Data Breach Report, there were 781 data breaches in 2015 with over 169 million records exposed.1 As you might expect, identity theft tops the list of consumer complaints that are reported to the FTC and other enforcement agencies every year.2 According to Javelin’s 2015 Identity Fraud Study, there is a new identity fraud victim every two seconds.3
Protecting Your Customers
So what can enterprises do to protect their customers against identity-related fraud? Despite the best efforts of risk managers, there will be occurrences where identity theft slips through their defenses. Therefore, enterprises need processes and solutions designed to help victims of identity theft.
A layered approach is often the best defense – combining predictive analytics, device intelligence, identity verification solutions, and appropriate remediation. As identity theft risk grows and fraudsters become more sophisticated, enterprises should invest in a faster and easier fraud resolution process.
Ready to Get Smarter?
Download our new white paper to learn more about and best practices to minimize identity-related fraud, Identity Fraud: What Can Enterprises Do to Better Fight it?
3 2015 Identity Fraud: Protecting Vulnerable Populations JAVELIN March 2015