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

Deepfakes Challenge Existing Identity Verification Tech
Deepfakes Challenge Existing Identity Verification Tech
October 21, 2021  |  Security & Fraud

Hollywood-style image manipulation that used to require a huge investment and a team of talented people with above-average expertise can now be attained by anyone...

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Report: How ING Group Is Using AI To Fight Financial Crime
Report: How ING Group Is Using AI To Fight Financial Crime
August 28, 2020  |  Fraud Prevention

Banks, credit unions and other financial institutions (FIs) were forced to stop more than $25 billion in fraud attempts in 2018 alone, but such efforts...

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CFPB Consumer Complaints Up 50 Pct During Pandemic
CFPB Consumer Complaints Up 50 Pct During Pandemic
July 20, 2020  |  CFPB

The Consumer Financial Protection Bureau (CFPB) has recorded record-high numbers of complaints every month since the pandemic hit in mid-March, according to a press release...

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Cognizant Corporate Cards Targeted In Cyberattack
Cognizant Corporate Cards Targeted In Cyberattack
June 22, 2020  |  B2B Payments

A cyberattack from Maze ransomware against global business and tech firm Cognizant mostly hit the company’s corporate cards that had been issued to employees, the...

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Visa Launches Advanced Identity Score To Help FIs Fight Application Fraud
Visa Launches Advanced Identity Score To Help FIs Fight Application Fraud
June 22, 2020  |  VISA

It’s the battle against fraud that can be lost right at the beginning. Bad actors, are, increasingly, targeting online card applications, using stolen personally identifiable...

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Deep Dive: Offering An End-To-End Experience Through ATMs
Deep Dive: Offering An End-To-End Experience Through ATMs
May 29, 2020  |  Credit Unions

The COVID-19 crisis has triggered a quantum leap among credit unions (CUs) toward offering innovative products and services. Safety measures implemented to slow the virus’s...

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Unemployment Fraud In Michigan Could Bump Legit Jobless Claims
Unemployment Fraud In Michigan Could Bump Legit Jobless Claims
May 29, 2020  |  Security & Fraud

Unemployed Michigan residents ought to be wary of a scam in which fraudsters are using stolen personal information to apply for unemployment benefits, according to...

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FTC: Active Duty Troops 76 Pct More Likely To Report Identity Theft
FTC: Active Duty Troops 76 Pct More Likely To Report Identity Theft
May 21, 2020  |  Security & Fraud

Active-duty service members are 76 percent more likely to report identity theft than most people, according to data from the Federal Trade Commission (FTC). The...

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How PNC Is Fighting Pandemic-Fueled Financial Crime
How PNC Is Fighting Pandemic-Fueled Financial Crime
May 21, 2020  |  Fraud Prevention

Financial crime is a never-ending concern for banks, credit unions (CUs) and other financial institutions (FIs), with trillions of dollars and untold terabytes of personal...

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