TransUnion’s Sr. Director, Global Identity and Fraud Chad Gluff, joined us on the show to share his expertise on the silent threat: why legacy fraud prevention isn’t working against today's synthetic fraud.
To set the stage, Chad provided a quick reminder on what synthetic fraud is and how prevalent is it in financial services space today with 10-15% of credit losses can now be attributed to synthetic fraud.
Chad then shared new tactics savvy financial institutions are implementing that more effectively protect against synthetic fraud — not only at origination but throughout the lifetime of an account.
Lastly, he provided other insights that can help financial institutions — credit unions, in this case — reduce the impact of synthetic identities.
Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.