Movements in Synthetic Fraud: How Banks and Consumers are Impacted - APAC

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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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The mission of Arkose Labs is to create an online environment where all consumers are protected from online spam and abuse. Recognized by G2 as the 2023 Leader in Bot Detection and Mitigation, with the highest score in customer satisfaction and largest market presence four quarters running, Arkose Labs offers the world's first $1M warranties for credential stuffing and SMS toll fraud. With 20% of our customers being Fortune 500 companies, our AI-powered platform combines powerful risk assessments with dynamic threat response to undermine the strategy of attack, all while improving good user throughput. Headquartered in San Mateo, CA, with offices in London, Costa Rica, and Brisbane, Australia, Arkose Labs protects enterprises from cybercrime and abuse.