Fraud Management & Cybercrime , Fraud Risk Management , Video

Business-to-Business Synthetic ID Fraud Is on the Rise

Thomson Reuters' Dori Buckethal on How Fraudsters Have Evolved Their Modus Operandi
Dori Buckethal, vice president of risk and fraud solutions, Thomson Reuters

Synthetic ID fraud has moved beyond business-to-consumers to business-to-business fraud as more bad actors are opening fraudulent commercial accounts at financial institutions, said Dori Buckethal, vice president of risk and fraud solutions at Thomson Reuters.

See Also: User Entity & Behavior Analytics 101: Strategies to Detect Unusual Security Behaviors

"Businesses in the U.S. are concerned about engaging with fictitious enterprises. What we are hearing from our customers and through reports and research is that bad actors are opening fraudulent business accounts and applying for lines of credit," Buckethal said. "They are posing as fraudulent vendors and requiring some portion of payment upfront - and then money laundering with shell companies."

In this video interview with Information Security Media Group, Buckethal discussed:

  • How fraudsters have evolved their techniques;
  • Measures businesses can take to spot fraudulent vendors;
  • Tools and technologies available to fight fraud.

Buckethal, who leads risk and fraud at Thomson Reuters, has more than a decade of experience in the fraud prevention, detection and investigations market. Her expertise stems from her continuous focus on industry and market trends coupled with a deep understanding of her customers' challenges.


About the Author

Suparna Goswami

Suparna Goswami

Associate Editor, ISMG

Goswami has more than 10 years of experience in the field of journalism. She has covered a variety of beats including global macro economy, fintech, startups and other business trends. Before joining ISMG, she contributed for Forbes Asia, where she wrote about the Indian startup ecosystem. She has also worked with UK-based International Finance Magazine and leading Indian newspapers, such as DNA and Times of India.




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