The acceleration to digital platforms created a perfect storm of new opportunities for fraudsters. Synthetic identity fraud, stimulus-related fraud, and other types of cybercrime have seen huge upticks within the past year and a half. In fact, the Federal Trade Commission revealed that consumers reported over 360,000 complaints, resulting in more than $545 million in COVID-19-related fraud losses as of September 2021. To protect both themselves and consumers, businesses — especially lenders — will have to find and incorporate new strategies to identify customers, deter fraudsters and mitigate cybercrime.

Created in partnership with One World Identity, this report provides an overview and analysis of the obstacles hindering digital identity management, the ambiguous regulatory landscape and issues with consumer trust. The solution: a layered approach that allows organizations to modernize identity and determine known, verified and unique individuals while also building in services customers want and expect. Click below to download the white paper.

The world of fraud is changing rapidly. As consumers move online, more and more businesses rush to meet them there. Consequently, criminals use different fraud tactics—each requiring specific tools and techniques to combat.

Learn how Experian help lenders meet the challenges of compliance and fraud through the Experian Access℠ platform in this video demo.

Watch as our experts discuss the top fraud and identity trends for 2021—including first-party, synthetic identity, account application and account takeover fraud. We’ll also explore how fraud prevention and detection tools can become part of your growth strategy.