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It can also help financial institutions (FIs) assess data from multiple channels, create seamless connections and enable them to make complex authentication decisions and detect fraud in real time. Estimates suggest that synthetic identitytheft is responsible for approximately 80 percent of the banking industry’s credit card losses.
IdentityTheft Demands Self-Advocacy. My colleague, TJ Horan, recently blogged about his predictions regarding the very real threat of identitytheft for consumers in 2020. Did you know that more than 1 million American children were victims of identity fraud in 2017 – and the damage included $2.6
Banks were asked which identity and authentication strategies they used, with the majority saying they used multifactorauthentication (84 percent). Why try to crack a safe when you can walk in the front door?
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