Mike Timoney, vice president, secure payments at the Federal Reserve Bank of Boston, says enterprises want to know how to deal with synthetic ID fraud. Timoney: “There are multiple enterprises who do not necessarily believe that synthetic fraud is actually happening” The bank created a toolkit in February to help fight this type of fraud. In a video interview with Information Security Media Group, Timoney also discusses the challenges of dealing with synthetic fraud and how the toolkit will help. The bank also discusses how the bank’s strategy to advance payments security focuses on improving fraud.”]
Source: https://www.govinfosecurity.com/synthetic-id-fraud-how-toolkit-will-help-banks-a-18633