Vintage 2023: Looking Back on the Fraud that Shaped the Year

2023 will be remembered by SentiLink as the year when fraudsters moved forward by looking back. Yes, new fraud tactics and M.O.s challenged our Fraud Intelligence Team and led to robust model updates. And to meet the evolving needs of our partners' risk teams, we launched a new attributes product, SentiLink Facets. But the trend that became top-of-mind for so many of our partners -- from banks to credit unions and fintechs -- was first party fraud, especially that related to checking accounts. "The Rise in Check Fraud" was a recurring headline in the news throughout the year, representing the "what's old is new again" sentiment that took hold throughout 2023.

Join our panel of experts for a look back on the highs and lows of 2023 through the eyes of fraud fighters where they'll discuss topics including:

The continued use and evolution of common fraud tactics

  • Phone-related patterns we observed in identity theft attacks.
  • Naming convention tricks fraudsters used to trick IDV systems.
  • Synthetic fraud hitting the auto lending industry.

Synthetic fraud hitting the auto lending industryNew behaviors that emerged this year

  • Some "Mt. Rushmore of Fraud"-worthy synthetic cases that wowed our risk team.
  • New phone number tactics utilizing unassigned numbers, and fraudsters ramping up use of tech, like residential proxies, to mask their location.
  • Noteworthy spike in J1 fraud.

The resurrection of old tricks and tactics

  • Fraud impacting deposit accounts was a major issue. Check washing and plain old theft from the mail plagued FIs.
  • "Credit boost" scams continued to proliferate.

Looking ahead: researching new fraud frontiers 

  • Our new research and product initiatives launched this year to help our partners adapt to the rise in first party fraud.
  • Breadcrumbs left behind by fraudsters help to reveal patterns of bad behavior.
  • Looking into phone histories to help catch money mule activity.
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Recorded December 14, 2023

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Patrick Eckerle

Head of Analytics, SentiLink

Patrick Eckerle is the Head of Analytics at SentiLink. With over 5 years of fraud experience and 10 years of experience in software development, data science, fraud operations management, and data engineering, Patrick has worn many hats in tech. In his time at Enova International, he was the leader of the Fraud Data Science and Operations team for their consumer and small business brands that lent money fully online in 3 different countries. At SentiLink, Patrick owns the analytics and data strategy that is helping to grow the business. Patrick lives in Chicago.

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Shannon Slaughter

Fraud Intelligence Analyst, SentiLink

Shannon joined SentiLink with 20 years of traditional banking experience under her belt, with the last 13 years spent working in various fraud prevention roles. She developed a passion for fraud prevention education while working in the credit union space, and enjoys sharing her knowledge with others. She now works as an analyst on SentiLink’s Fraud Intelligence Team and maintains the fraud training onboarding program all new recruits are required to attend.

John Chang

John Chang

Chief of Staff, SentiLink

John serves as the Chief of Staff to our COO and is a key member of the R&D team at SentiLink. His role encompasses go-to-market strategy for new products that originate from the team’s exploration, as well as crafting research to highlight SentiLink's work in first party fraud, with an emphasis on deposit accounts. Prior to joining SentiLink in early 2023, he helped early stage companies with growth strategy and fundraising, leveraging his background in private equity investing. 

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Jason Kratovil

Head of Public Policy and External Affairs, SentiLink

Jason Kratovil is Head of External Affairs and Public Policy at SentiLink. In this capacity he leads all aspects of the company’s corporate communications, reputation and brand identity strategy, as well as engagement with federal policymakers. He is a recognized expert in identity fraud, payments, data security and consumer privacy, having testified before the US Congress. Previously, Jason was a principal at the Washington, DC law firm of Sivon, Natter & Wechsler, P.C. While at the firm he founded the Consumer First Coalition, through which he led efforts on behalf of the financial industry to implement the Electronic Consent Based SSN Verification system (eCBSV) with the US Social Security Administration. Jason holds a Master of Public Policy degree, two B.A. degrees and a Certified Information Privacy Professional (CIPP/US) certification. Jason also serves on the Fairfax County (VA) Consumer Protection Commission.

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