Synthetic ID Fraud

9:00 a.m. – 12:00 noon

A “synthetic identity” is a combination of artificial and authentic identifiers, or all artificial identifiers, for an “individual”. Actors then use these identities to secure credit and thus use this credit to commit fraud. This type of fraud accounts for 80% of all loss from credit card fraud, which is estimated to be in the billions of dollars per year, and almost 20% of charge-offs, according to Equifax. This event will enable attendees to have a thorough understanding of:

• the mechanics of this fraud;
• the common schemes which employ this fraud, such as auto, bust-out and insurance fraud;
• means through which to detect, mitigate and prevent this fraud;
• and major groups which perpetrate this fraud.

Justin Tramber, Assistant Vice President, Synchrony Financial

Johnna Bardell, Intelligence Analyst III, NCFTA 

If interested in attending, contact info@ncfta.net.