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Financial Cybercrime: Proactive ways to protect companies and consumers

ID Insight president Adam Elliott was an expert source for an in-depth article on cybercrime and cybersecurity published in the May issue of Delta Sky magazine.

The article, called Proactive Protection, addresses the many cyber threats companies and consumers face, as well as what they should be doing to protect themselves. Among the topics Elliott addresses is synthetic identity fraud, where criminals use legitimate information paired with fake names to open fraudulent new accounts.

“We’re constantly keeping up with the latest threats in hacking secure systems to get private data,” Elliott tells the author. “But the level of data breaches that have already happened is almost to the point where, let’s face it, our data is out there in spades. What we really need to do is work to make sure it isn’t used fraudulently against consumers.”

ID Insight Focused on NAF, ATO at Card Forum 2019

Anti-fraud data and analytics firm exhibiting May 21-23 in booth #203

MINNEAPOLIS (May 21, 2019) – New-account fraud (NAF) and account takeover (ATO) remain the most pressing problems for financial institutions struggling to fight fraud. Minneapolis-based ID Insight – a SaaS data and analytics firm providing next-generation fraud solutions to financial services companies – is tackling NAF and ATO aggressively on behalf of its clients, among them several of the largest U.S. banks.

ID Insight is attending Card Forum 2019 – May 21-23 in New Orleans – with a sharp focus on the most urgent needs of the industry: creating new predictive models for identifying and eliminating financial fraud.

The ID Insight innovations on display at Card Forum 2019 include a score-based solution that examines hundreds of data attributes and a proprietary, consortium-sourced data engine and a robust set of predictive tools and alerts.

“There is a perfect storm causing an acceleration of new account and account takeover fraud, and the forecast for the future doesn’t look much brighter,” said Adam Elliott, founder and president of ID Insight. “Fraud activity today is far more organized and automated than in past years, and we are helping banks respond with similarly well-organized and automated fraud controls.”

Since 2017, the number of banks using ID Insight technology to fight fraud has more than tripled. Visit ID Insight in booth #203 during the show or contact Scott Roberts () to schedule an in-booth demo of the company’s newest solutions.

About ID Insight

Headquartered in Minneapolis, MN, ID Insight helps financial institutions solve their most difficult fraud and compliance challenges. The company serves more than 2,500 customers and is recognized as a leader in identity theft detections solutions – especially in the retail banking industry. Learn more at www.idinsight.com.

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