Fraud Management & Cybercrime , Fraud Risk Management , ID Fraud

Strategies for Fighting Synthetic ID Fraud

People’s United Bank’s Karen Boyer on Using Consumers' Devices for Authentication
Karen Boyer, vice president, financial crimes and fraud intelligence, at People’s United Bank

To mitigate the fraud risks posed by synthetic IDs, banks should use consumers' devices to help with authentication, says Karen Boyer, vice president, financial crimes and fraud intelligence, at People’s United Bank, based in Connecticut.

See Also: The Use of Data to Identify Fraud

“The device of a consumer can give out information beyond just geolocation," she says. "There is the ability to tell if you are signing on using an emulator. There are technologies for bot detection to check the speed of your typing.”

In a video interview with Information Security Media Group, Boyer also discusses:

  • How synthetic ID fraud has evolved;
  • New technologies to tackle synthetic ID fraud;
  • How application fraud and synthetic ID fraud differ.

Boyer is vice president, financial crimes and fraud intelligence, at People’s United Bank, a regional bank in the Northeast with a network of nearly 400 locations. She has more than 20 years of diverse banking experience, specializing in fighting fraud.


About the Author

Suparna Goswami

Suparna Goswami

Associate Editor, ISMG

Goswami has more than 10 years of experience in the field of journalism. She has covered a variety of beats including global macro economy, fintech, startups and other business trends. Before joining ISMG, she contributed for Forbes Asia, where she wrote about the Indian startup ecosystem. She has also worked with UK-based International Finance Magazine and leading Indian newspapers, such as DNA and Times of India.




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