The ease of creating a false identity has made financial institutions extremely vulnerable in becoming victimized across multiple operational areas.

Credit thieves and fraudulent applicants with false identities daily infiltrate financial institutions. These imposters have changed the playing field to their advantage - placing your business in severe risk of loss.

There is a way to thwart these perpetrators. Protect your business from criminal activity by learning their schemes and thwarting their attempts with the absolute validation methodology direct form the U.S. governmental source records.

CBSV will be discussed as the premier method of personal identifier validation for due diligence processes as it matches name, SSN, date of birth, gender, and death indicator direct to the SSA Master File and Death Index to mitigate fraud and identity theft and reduce loan losses and net charge-offs.

CBSV is becoming the industry standard, and financial institutions that do not implement it into their processes will be less able to compete.

Covered Topics:

• Current schemes used by applicants of all types (including new depository accounts, mortgage, auto, and personal loans), unauthorized workers, and other identity theft perpetrators
• Learn how to protect the vital interests of your organization and avoid becoming victimized by mitigating losses associated with fraud, identity theft and the loss of your company's valuable reputation
• The differences and similarities between government and non-government verification systems (credit header information, data algorithms, Form I-9 Employment Eligibility Verification, E-Verify, Social Security Number Verification Service (SSNVS), and Consent Based Social Security Number Verification (CBSV) service)
• Pros and cons for each along with learning about current schemes involving Synthetic Name Fraud (aka Synthetic Identity Fraud) and Credit Profile Numbers (CPN) - which are both used to easily create a fraudulent identity
• Case studies will be discussed and industry best practices will be reviewed.

Who Should Attend

Executives and Managers of Operations, Lending, New Accounts, Security, Fraud, SIU, Compliance, and Human Resources.

The Presenter

Jim McCain, a certified trainer and General Manager of Computer Information Development LLC, has over 35 years experience in fraud prevention and remediation services. Jim started his credit/collections career in 1971 and has worked thousands of fraud cases during this time.