Looking out – the fight back against synthetic identity fraud

This article is reproduced with permission from McKinsey & Company. Bryan Richardson(www.linkedin.com/in/1bryanrichardson) is a senior knowledge expert in McKinsey’s Vancouver office andDerek Waldronis a former partner in the New York office. The authors wish to thank DemystData, a comprehensive data-access company, for helping provide the data used in this article. The authors also wish to thank Kevin Buehler, Mark Hookey, Ivan Pyzow and Shoan Joshi for their contributions to this article.

Digging deep into the data trails people leave behind can help banks detect whether their customers are real or not and stem losses from a fast-growing form of financial crime. Bryan Richardson of McKinsey & Company and  Derek Waldron explain the approach.