Fraud and Cybercrime Management, Identity Fraud
Expert panel discuss vital measures government must consider
Suparna Goswami (gsuparna) •
March 16, 2022
The Biden administration has announced that it will soon release a executive order to control identity theft in pandemic relief programs. What important elements should be included in the executive order? A panel of experts – John BuzzardChief Fraud and Security Analyst at Javelin Strategy & Research; Frank McKenna, chief fraud strategist at PointPredictive; and Jake Emry, Fraud Prevention SMB at NICE Actimize – share their recommendations.
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“There needs to be a strong marriage between behavior analytics, machine learning, and identity protection tactics. Various data points, which I call telephony details, can be mined. Basically, anything that ties you to a device and IP data, there’s a huge source of data,” says Buzzard.
McKenna says the government should require state governments to leverage multiple vendors rather than relying on just one. “Government should not rely on one solution to perform driver’s license verification, but on multiple solutions so that they have multiple traces. Also, pattern recognition tools should be leveraged so that the focus is not on any particular fraud,” he said.
“There are many technologies out there, but I would like to see a budget allocated. There needs to be political support to fight fraud together,” Emry says.
In a video interview with Information Security Media Group, the panelists also discuss:
- What led to the great fraud in benefits programs;
- How not all fraud is about identity theft;
- The various policies of the Executive Order.
Buzzard is a nationally recognized expert in financial fraud and security. He has influenced card fraud, risk, and security departments for financial institutions across the United States through research, white paper writing, public speaking, and consulting. He has over 20 years of experience in the areas of fraud, security and risk management.
McKenna has advised more than 200 banks, lenders and finance companies worldwide to help them reduce fraud. He also provides fraud management tips through his daily blog, FrankonFraud.com.
Emry defines and leads strategic initiatives within the fraud and authentication line of business, focusing on fraud analytics at NICE Actimize.