Defining Synthetic Fraud
Synthetic fraud is the fastest growing form of fraud in financial services. Unlike identity theft, synthetic fraud generally lacks a consumer victim who would recognize fraudulent activity associated with their identity. Financial institutions apply inconsistent nomenclature and disjointed detection mechanisms, resulting in wildly varying industry estimates of the size of the synthetic fraud problem. This white paper is designed to help provide insight and fuel ideas and debate as the industry moves toward developing a broadly adopted standard for certain fraud definitions.
ACFE / Grant Thorton
Anti-Fraud Playbook The Best Defence is a Good Offense
This playbook is intended to provide practical guidance for organizations looking to begin, advance, or benchmark their fraud risk management (FRM) programs against industry best practices. As such, this playbook includes key questions, checklists, and insights that will enhance your FRM program and ultimately facilitate proactive FRM at your organization.
Aite Group / BioCatch
Workplace Distancing: Adapting Fraud and AML Operations to COVID-19
Aite Group interviewed 13 fraud and anti-money laundering (AML) executives at North American financial institutions (FIs), fintech lenders, and issuing processors from March 31, 2020, to April 8, 2020,
to understand how they have adjusted to the new requirements dictated by COVID-19. Interviews also explored the evolving risk vectors as bad actors adjust their tactics to capitalize on COVID-19.
International Air Transport Association
Fraud in the Airline Industry: Why Carriers Need to Think of Themselves as Crimefighters
Fraudsters have taken advantage of the COVID-19 pandemic to increase the pace of their activities. Cyberattacks, scamming, phishing, and fake refund claims targeting airlines have dramatically increased in the last few months. In a normal year, the cost of fraud to airlines is estimated at $1 billion. IATA has published a new whitepaper, Fraud in the airline industry – why carriers need to think of themselves as crimefighters that aims to help airlines grasp the full extent of fraud, and why a community approach is most effective in combatting it.
Fraud In The Wake Of COVID-19: Benchmarking Report
COVID-19 has affected — and will continue to affect — the business environment in countless ways. Travel bans, employees working remotely, and an increased reliance on technology and economic uncertainty have become the reality for many organizations around the world. And while these and other hurdles present numerous logistical and operational challenges, they also open the door to the increased pressure, opportunity and rationalization that can lead to fraud.
2020 Global Identity & Fraud Report
Desires for a better experience and concerns for security are still shaping the digital relationship between consumers and businesses, and identity is finding its way into every customer decision. The idea for Experian’s 2020 Global Identity and Fraud Report was to explore such insight. Based on input from over 6,500 consumers and 650 businesses worldwide, we developed an understanding of the complicated relationship people and businesses have with identity.
2020 True Cost of Fraud Study
The LexisNexis® Risk Solutions 2020 True Cost of FraudSM Study explores the evolution, expansion and cost of fraud to deliver insights and recommendations on how to effectively sustain your business, successfully manage fraud risks and strengthen customer trust and loyalty.
2020 Fraud The Facts
Our Fraud – the Facts 2020 report highlights that last year investment by the finance industry in advanced security systems to protect customers prevented more than £1.8 billion of unauthorized fraud. But criminals still successfully stole over £1.2 billion through fraud and scams in 2019.
This report combines data from our National Fraud Database (NFD) and Internal Fraud Database (IFD), alongside intelligence provided by Cifas members, partners and law enforcement. In 2019, Cifas members saved over £1.5bn through prevented fraud losses, but we can prevent and detect even more fraud through better understanding of the key fraud threats and enablers, which is the purpose of this report.