Information overload can be a real hindrance for organizations that are dealing with synthetic identity fraud. There are so many fraud threats and variations that require specialized anti-fraud products and services. The challenge is finding the best options to specifically detect and prevent synthetic identities.
“In speaking with financial institutions and other payments experts about synthetic identity fraud for a number of years, questions have escalated from ‘What is it?’ and ‘How can I detect it?’ to ‘What can I do about it?’ The Federal Reserve has expanded its Synthetic Identity Fraud Mitigation Toolkit to enhance awareness and understanding of synthetic identity fraud – and to help people and organizations reduce the time they spend to locate service providers and their mitigation offerings for this type of fraud.”
Mike Timoney, vice president of payments improvement
Federal Reserve Financial Services
The latest addition to the toolkit, Module 9: Fraud Mitigation Service Providers, offers a list of synthetic identity fraud mitigation service providers in alphabetical order. Each listing includes the name(s) of the provider’s synthetic identity fraud detection and prevention offering(s), a brief description and links to the organization’s website and a contact. The Federal Reserve expects to periodically update this list with additional service provider submissions that meet the criteria for inclusion.
Federal Reserve Financial Services (FRFS) is merely the host for the information and providers listed in Module 9 and takes no responsibility for the content or accuracy of any information presented. FRFS does not support or endorse any providers, and the inclusion or exclusion of a provider should in no way imply any recommendation or endorsement by FRFS. None of the providers supplying information in the list have any special or exclusive relationship with FRFS, and no relationship should be implied. For more information, see the Service Providers Call for Participation and Rules for Participation.