Movements in Synthetic Fraud: How Banks and Consumers are Impacted

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Presented by

Patrice Boffa, Arkose Labs; Julianne Rose, Arkose Labs; Mike Perkowski, New Reality Media LLC

About this talk

From the Tinder Swindler to Anna Delvey, synthetic fraud is increasingly in the public eye. But catfish aren’t just to be found in the dating or investment worlds. The earnings potential from account-based fraud is at an all-time high, driving bad actors to use synthetic identities and long-tailed schemes to build confidence with unassuming consumers. Knowing how fraudsters carry out synthetic fraud and what to look for can help financial institutions stay ahead of this high-impact fraud. In this session, you will learn: Top trends driving fraudsters’ to use fake accounts to earn big How synthetic identities are built up and primed for bigger scores of application fraud 3 best practices to identify and stop synthetic fraud before damage occurs

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Arkose Labs is the global leader in providing account security and bot management. The company’s unique detection and mitigation platform stops bad actors from attacking a consumer’s login and/or sign-up function on a B2C company’s website and app. Arkose Labs detects the most prevalent and costly types of online attacks today: credential stuffing, account takeovers, fake new account registration, phishing, IFRS, etc.