Identity Theft

Identity theft is the deliberate use of someone else's identity, usually as a method to gain a financial advantage or obtain credit and other benefits in the other person's name, and perhaps to the other person's disadvantage or loss.

Source: consumer.ftc.gov

Plaid Launches Anti-Fraud Network
Plaid Launches Anti-Fraud Network
June 22, 2023  |  Identity theft

Plaid has launched a collaborative network designed to stop “the chain reaction of identity fraud.” The new Plaid Beacon network is open to FinTechs, financial institutions of all...

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President Biden Proposes $1.6B to Fight Pandemic-Related Fraud
President Biden Proposes $1.6B to Fight Pandemic-Related Fraud
March 02, 2023  |  Security & Fraud

The Biden administration wants congressional approval for a $1.6 billion plan tackling COVID-related fraud. The proposal, announced Thursday (March 2), would prosecute people who committed...

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Advanced Identity Tools Speed Crypto Account Access and Build Revenue
Advanced Identity Tools Speed Crypto Account Access and Build Revenue
February 10, 2023  |  Digital Identity

Streamlined digital account opening is a must-have for all financial institutions (FIs). A critical step in that process is the login experience, for which customers...

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Intelligent Tech Balances Customer Convenience With Identity Theft
Intelligent Tech Balances Customer Convenience With Identity Theft
December 19, 2022  |  Identity

Identity theft and other types of fraud will become even more widespread in 2023. That’s according to the latest report released by the Identity Theft...

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PYMNTS Intelligence: Leveraging Technology to Combat Identity Fraud
PYMNTS Intelligence: Leveraging Technology to Combat Identity Fraud
November 04, 2022  |  Fraud Prevention

A recent study found that businesses lost $52 billion to identity fraud in 2021, a shocking 79% increase year over year. This fraud was split...

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Preventing Identity Fraud Comes Down to Effective Use of Data
Preventing Identity Fraud Comes Down to Effective Use of Data
November 02, 2022  |  Fraud Prevention

Identity fraud has been growing in recent years and had a notable increase in 2021. Identity theft alone accounted for $56 billion in losses that...

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How Synapse Ensures A Smooth And Secure Authentication Experience Via Behavioral Analytics
How Synapse Ensures A Smooth And Secure Authentication Experience Via Behavioral Analytics
August 01, 2022  |  Authentication

User authentication is a critical tool for any organization that deals in personal or financial information, as identity theft runs rampant in the modern business...

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71% Of Businesses to Add Transaction Alerts, ID Verification to Anti-Fraud Strategies
71% Of Businesses to Add Transaction Alerts, ID Verification to Anti-Fraud Strategies
February 24, 2022  |  Fraud Prevention

Recent data from PYMNTS shows many companies aren’t accepting new business due to a fear of potential fraud. The reasoning behind their hesitance may be...

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Had It With Passwords? Two-Thirds of Consumers Are Done With Antiquated Authentication
Had It With Passwords? Two-Thirds of Consumers Are Done With Antiquated Authentication
February 14, 2022  |  Authentication

The increased global penetra­tion of mobile devices has transformed how consumers transact with their preferred financial institutions (FIs), merchants and service providers. As consumers’ lives...

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