Introduction

In the digital age, a person's identity is their most valuable asset, and it has become the primary target for malicious actors. As financial services become more accessible online, so too does the opportunity for sophisticated digital identity fraud, from synthetic identities to account takeovers. The ability to verify a customer's identity with certainty while maintaining a seamless user experience is a paramount challenge for credit and risk management. This advanced training will give you the specialized knowledge and tools to build robust defenses against the evolving landscape of digital identity fraud, ensuring the integrity of your transactions and the security of your customers.

This comprehensive program provides a deep dive into the theoretical and practical aspects of digital identity fraud prevention. You will explore the intricacies of identity verification technologies, the use of advanced analytics to detect fraudulent behavior, and the integration of a multi-layered security framework into your existing credit and risk models. The course emphasizes the latest techniques in biometrics, behavioral analytics, and machine learning to build a proactive defense against fraud. By the end of this training, you will be proficient in designing, implementing, and managing a modern digital identity fraud prevention program, safeguarding your institution against financial loss and reputational damage.

Duration: 10 Days

Target Audience

• Fraud prevention specialists
• Credit risk analysts
• Cybersecurity professionals
• Digital banking product managers
• Compliance and governance officers
• IT and security teams
• Customer onboarding specialists
• Data scientists
• Anti-money laundering (AML) professionals
• Consultants

Objectives

• Understand the types and methods of digital identity fraud.
• Master the principles of multi-factor authentication.
• Analyze the key risk indicators of fraudulent activity.
• Learn to integrate identity verification solutions.
• Use machine learning for real-time fraud detection.
• Understand the global regulatory landscape for digital identity.
• Optimize the customer onboarding process for security.
• Develop a framework for monitoring and responding to fraud.
• Assess the risk of synthetic and stolen identities.
• Use behavioral biometrics to identify suspicious activity.

Course Modules

Module 1: The Digital Identity Landscape

• The concept of a digital identity
• The difference between identity theft and identity fraud
• The evolving landscape of digital threats
• The cost of digital identity fraud to the financial industry
• The importance of a proactive approach to fraud prevention

Module 2: Types of Digital Identity Fraud

• Account takeover (ATO)
• Synthetic identity fraud
• Phishing and social engineering
• Application fraud
• New account fraud

Module 3: Foundational Identity Verification

• The role of Know Your Customer (KYC) in the digital age
• The use of government-issued IDs for verification
• The importance of data matching and validation
• The challenges of cross-border identity verification
• The future of digital identity standards

Module 4: Biometrics for Identity Verification

• The types of biometric data: facial, fingerprint, and voice
• The use of passive and active biometrics
• The security and privacy implications of biometrics
• The challenges of deepfakes and biometric spoofing
• The legal and ethical framework for using biometrics

Module 5: Behavioral Analytics

• The concept of user behavior as a security layer
• The use of keystroke dynamics and mouse movements
• The importance of a user profile
• The role of behavioral analytics in detecting account takeover
• The integration of behavioral analytics with other tools

Module 6: The Role of Machine Learning

• The use of supervised and unsupervised learning for fraud detection
• The importance of a labeled dataset
• The process of model training and deployment
• The challenges of false positives and false negatives
• The role of explainable AI (XAI) in fraud models

Module 7: The Credit and Risk Integration

• The use of digital identity data in credit scoring
• The impact of fraud risk on a credit decision
• The importance of a shared risk assessment framework
• The role of a fraud score in the underwriting process
• The importance of real-time data in a risk model

Module 8: The Onboarding Experience

• The balance between security and user experience
• The use of a multi-layered authentication approach
• The importance of a seamless and intuitive user flow
• The role of A/B testing in optimizing the onboarding process
• The impact of a poor onboarding experience on customer churn

Module 9: The Global Regulatory Framework

• The Payment Card Industry Data Security Standard (PCI DSS)
• The General Data Protection Regulation (GDPR)
• The importance of a privacy-by-design approach
• The role of regulatory bodies in combating fraud
• The future of global digital identity regulations

Module 10: Capstone Project Part 1: Design

• Defining a specific digital identity fraud problem
• Mapping the data requirements and security architecture
• Outlining the key technical and analytical requirements
• Creating a detailed project plan
• Presenting the design to a mock review board

Module 11: Capstone Project Part 2: Development

• Implementing a fraud detection model for the chosen problem
• Using a model to evaluate a sample of transactions
• Analyzing the model's performance on key metrics
• Building a presentation to explain the analysis
• Documenting all assumptions and data sources

Module 12: Capstone Project Part 3: Presentation

• Presenting the full fraud analysis of the chosen problem
• Discussing the risks and benefits of the model
• Proposing a plan for model improvement
• Q&A and peer feedback session
• Receiving expert recommendations and insights

Module 13: Future of Digital Identity

• The role of blockchain in identity management
• The concept of a self-sovereign identity
• The importance of interoperable identity ecosystems
• The use of federated identity management
• The future of decentralized identity

Module 14: Incident Response and Recovery

• The importance of a clear and concise incident response plan
• The steps to take during a fraud event
• The role of a digital forensics team
• The importance of post-incident analysis
• Communicating with customers and stakeholders during an incident

Module 15: Course Certification

• A final comprehensive assessment
• A final review of key concepts and objectives
• Issuance of a certificate of completion
• Post-course career guidance and networking
• A final Q&A with instructors

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 10 working days before commencement of the training.