Identity Verification | Fraud Prevention | Account Opening Fraud | Identity Fraud Prevention | Synthetic Fraud | Checkout | Account Takeover Detection | Risk Mitigation
Community banks are being used as stepping stones for serious fraudsters to bolster ‘thin file’ credit reports. They’ll open accounts, take out small loans, and diligently repay them – all to build credibility for larger fraud schemes elsewhere. It's a long game that legacy fraud detection simply wasn't built to catch. These synthetic identities are projected to cost banks $40B by 2027. Working with @Alloy, we can help banks withstand these attacks. https://lnkd.in/db5_JMXF
