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Deployment & Leading Practices

Fraud Controls for Digital ID Ecosystems

Wednesday, June 23
11:00am - 11:25am MDT

To date, Trust Frameworks have generally been light touch reagrding the specification of fraud controls, relying on the theoretical protection afforded through more robust authentication. It is true that improvements in authentication methods, such as soft tokens and biometrics, mean the ID theft vector of phishing for a user’s password may be removed. However, ID fraudsters will continue to use stolen ID information to create an ID in the victim’s name. They will continue to create synthetic IDs. They will also continue to try and take over victim’s accounts, using online account recovery and voice helpdesk channels to replace a strong authentication method with one that the fraudster controls.

In recognition of this ongoing threat from fraudsters, the Open Identity Exchange (OIX) has produced a comprehensive Guide to Fraud Controls for Digital ID Ecosystems.

The guide covers the processes and channels that need to be considered from a fraud risk point of view. It identifies the different types of fraud controls that should be applied in each channel, including ecosystem wide syndicated fraud controls, such as shared signals. The process of dealing with a suspected fraud is examined: how should these be prioritised, what investigation process should be followed, and how should victims be informed. Finally, it covers legal considerations when implementing fraud controls, in particular when sharing information and collaborating across the ecosystem to act as a joined-up defence against fraud attack.

This presentation will provide an overview of a guide and provide the audience a chance to speak with the authors about their own fraud challenges and how the recommendations in the guide might be applied to help.