Watch the 5:50 clip above and/or check out the entire episode below the show notes.
It's well known that fraud is off the charts this year mostly due to the pandemic. But, COVID aside, it's always too high for everybody's comfort with new types of fraud being committed daily. One of those relatively new types of fraud is synthetic fraud that credit unions, especially, need to be aware of from now on.
In this talk, we spoke with SentiLink CEO Naftali Harris on the many risks of synthetic fraud -- particularly with credit unions. Naftali shares Sentilink’s new research that shows 1 in 7 synthetic identities has a trade line from a credit union and balances are 2.5 times higher.
This was an incredibly eye-opening discussion on what exactly is synthetic fraud, how easy it is to commit, and how vulnerable credit unions are to this type of fraud -- as well as many others.
Check it out and let us know your thoughts. And watch the entire episode below for all the details.