Page 10 - GS210301

NewsBriefs

This article contains excerpts from news stories recently posted under Breaking Industry of increases in identity verification
News on our homepage. For links to these and other full news stories, please visit www.green- fraud, experts discussed strategies
sheet.com/breakingnews.php. for mitigating attacks and leverag-
ing IDV technology to improve access
to digital services. Use cases can be
found at https://fidoalliance.org/fido-
government-deployments-and-recogni-
Fraudsters lie low, ready to pounce again tions/.
New research reveals that instances of synthetic fraud and outstanding credit Talk of Her Town celebrates
balances on suspected synthetic accounts at U.S. financial institutions have fintech leaders
fallen significantly since the COVID-19 emerged last March. The bad news,
however, is that the cost of synthetic fraud could rebound to reach new highs NYC Fintech Women launched Talk
post pandemic. "These folks are getting more and more sophisticated," Julie of Her Town, a globe-spanning pod-
Conroy, research director at Aite Group, said in an interview with The Green cast series that celebrates women in
Sheet. Synthetic fraud is difficult to detect. In fact, most companies don’t real- fintech. Moderated by Nicole Newlin,
ize the full extent of their exposure, because synthetic attacks are often written vice president of solutions at Ocrolus
off as credit losses, Aite noted in a new report, Synthetic identity fraud: diabolical and board member and events chair
charge-offs on the rise. at NYC Fintech Women, the series
highlights the personal journeys of
FIDO Alliance explores U.S. IDV strategy individual members who are re-
shaping financial services and com-
Experts from government and private sectors convened virtually in February merce. "With over 5,000 NYC Fintech
to discuss advances in identity verification technologies and strategy. Hosted Women members, we had access to a
by the FIDO Alliance, Better Identity Coalition and ID Theft Resource Center, vast pool of women building careers
the event drew participants from the Biden administration, U.S. Department and navigating the world of startups
of Treasury, Small Business Administration and technology providers. In light and tech, all with inspiring stories to
share," Newlin said. "Our mission is
to connect, empower and promote
women in their professional advance-
ment in fintech."
NEAA cancels 36th
annual conference

The Northeast Acquirers Association
will not host its annual conference in
Philadelphia from April 6 to 8, 2021,
as originally planned. NEAA board
members cited health and safety
concerns due to the ongoing pandemic
as key considerations. "Canceling
our annual conference this year
was a tough decision, but we felt it
was the only responsible decision to
protect the health and wellness of our
supporters and attendees," said Jenn
Reichenbacher, NEAA board member
and senior vice president, marketing,
payment processing at Paysafe
Group. "We’d love to potentially host
a smaller one-day or half-day event
later in the year, but time will tell if
that will be possible." Jim Fink, NEAA
board member and director, strategic
relationships at Rapid Finance,
stated, "We will continue to work on
our 2022 event and make that one the
best in our 35-plus year history."

10