Red flags indicating ID threats for New & Existing Accounts and Problems with the "26 Red Flags"

Why Should You Attend:

After the data breach at Experian, fraudsters buying data on the Dark Web have access to the same credit report data the bank does. Banks need to do some basic rethinking about customer and potential customer identity issues. And they need to do that quickly. This is going to require creative thinking, as there is no “solution” in a box on the shelf

Learning Objectives:

• What has been compromised by the data breach? Do we still know…
• Who is this new account applicant?
• Is this person the customer they claim they are?
• So where now? Back to the future? It well may be that the best answers depend on technologically updated versions of how people have always recognized each other: faces, voices, and (of late) fingerprints.
• Faces, lessons from Casinos
• Voices
• Fingerprints
• Other options
• Addresses as control
• Matching
• Returned mail as control
• What do we do NOW?
• Plan
• Prioritize

Areas Covered in the Webinar:

• What has changed?
• Problems with the “26 Red Flags”
• Red flags indicating ID threats for new accounts
• On application
• On credit reports
• On documents provided
• On early use of new credit
• Red flags indicating ID threats for existing accounts
• Directions for ID Tools in a post-breach world

Who Will Benefit:

• Fraud Manager, Compliance Manager
• AML Manager
• VP, Manager
• Director
• Supervisor levels
• AML Specialist
• Bank Manager