Fraud Summit - Chicago 2014 - Identity fraud and the creation of synthetic identities often result from identity theft, but the strategies organizations follow to prevent ID theft and ID fraud are very different. Register for this session to learn:
How the industry defines ID fraud and ID theft;
Why banking institutions have a unique role to play in protecting consumers' identities;
New strategies to better detect the creation of synthetic identities.
Our risk-based system of identity proofing in business and commerce - on top of the rapid advance of technology -- has resulted in the development of sophisticated first-party fraud where identities of nonexistent actors, or avatars, often hide in plain sight while costing society billions each year.
All while organization fixate on the more obvious identity theft, or more aptly named criminal impersonation.
In this session, recorded at the 2014 Chicago Fraud Summit, identity fraud expert Richard Parry discusses the difference between first- and third-party fraud, focusing particularly on synthetic identity and how and why it proliferates, impacting all major business verticals.
Mark Pulido of the U.S. Postal Inspection office in Chicago then shares insights and case studies from his agency's recent identity fraud investigations.
ISMG's Fraud Summits are one-day events focused exclusively on the top fraud trends impacting organizations and the mitigation strategies to overcome those challenges.
Principal, Parry Advisory; former Risk Management Executive, JPMorgan Chase
Parry is a career risk manager, with experience that spans the globe for international financial institutions such as Visa, Citigroup and JPMorgan Chase. Parry's expertise includes executive roles in fraud operations, fraud policy and oversight, customer authentication and identity management. After his tenure with Chase, Parry co-founded Turnkey Risk Solutions, an identity risk management company specializing in identifying synthetic identities and first-party fraud. Most recently, he created Parry Advisory, an advisory firm focused on identity risk and cybersecurity thought leadership.
Postal Inspector, U.S. Postal Inspection Service, Chicago
Pulido is currently assigned to a mail theft/identity theft team in Chicago. Most recently, Pulido was assigned to a mail fraud team in Chicago. Pulido is a graduate of Purdue University and has worked for the Postal Inspection Service since 2007. Pulido has experience working complex mail fraud investigations including mortgage fraud, healthcare fraud, embezzlement and identity fraud.