SentiLink's Co-founder and CEO, Naftali Harris talks fraud with Jason Mikula of Fintech Business Weekly.
"Unfortunately, some in the industry interpret the CIP rules as requiring you to check for a "match" of the four CIP elements (name, DOB, SSN or other identifier, and address). In addition to complying with neither the letter nor the spirit of the CIP rules, as typically implemented these "match-based" checks are also nearly useless at stopping fraud."
More details on pandemic-related fraud, the role regulators should play in addressing fraud, the evolution of identity verification, and more in the full interview.