Event Calendar

Monday, March 11, 2019

Synthetic ID Fraud: What It Is, How It Works & Real-Life Scenarios

Start Date: 3/11/2019 1:00 PM MDT
End Date: 9/11/2019 2:30 PM MDT

Organization Name: Independent Bankers of Colorado

Tara F. Hunter
Phone: 303-832-2000

Synthetic ID Fraud: What It Is, How It Works & Real-Life Scenarios
1:00 pm – 2:30 pm MT

According to the U.S. Federal Trade Commission and Department of Justice, synthetic identity fraud is among the fastest and most difficult to detect fraud trends in financial services today.  These fraudsters create identities from the sum of related and unrelated parts.  This webinar will explain what synthetic identity fraud is, how these fictitious identities authenticate during CIP onboarding and other knowledge-based authentication protocols, and proven strategies to thwart this evolving threat.  This must-attend program will change how your financial institution onboards and authenticates consumer transaction accounts and loans.


  • Definition and examples of synthetic identity fraud
  • Why the young and elderly are rich targets
  • Hallmark red flags to detect synthetic identities within credit reports
  • Proven techniques to thwart the threat via a multi-layered risk management approach
  • Case study: lessons learned after $200,000 synthetic identity theft and the programmatic enterprise changes made afterward
    • Link to U.S. Government Accountability Office WATCHBLOG on synthetic identity fraud
    • Link to Federal Trade Commission’s consumer information on identity theft
    • Snapshot views of what a synthetic identity credit report looks like
    • Equifax, Experian, and TransUnion contact numbers and the importance of credit freezes
    • Employee training log
    • Quiz to measure staff learning and a separate answer key
This informative session is designed for risk management team members, including retail and commercial leaders and staff, lenders, loan operations personnel, underwriters, directors, audit committee members, attorneys, auditors, and staff who deal with information security, risk, and compliance.

Continuing Education: Attendance verification for CE credits upon request.

NOTE:  All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.


Brian W. Vitale, NCCO, CAMS-Audit
Compliance Advisory Services
Brian Vitale earned his Political Science degree from North Central College in 1996 and an MBA from the University of Notre Dame in 2014. Brian was recruited by the National Security Division of the FBI where he specialized in counterterrorism and foreign counterintelligence. In addition, he is a decorated veteran who served in Guantanamo Bay, Cuba in the early 1990s.
Subsequent to the FBI, Brian spent many years in banking and finance where his skills led him to the field of Global Operational Risk Management. He has over 23 years of banking, finance, and investigative experience. In July 2011, Brian joined a community financial institution and currently serves as their chief risk and compliance officer. He speaks nationally on BSA, anti-money laundering, enterprise risk management, cybersecurity, and strategy.