PRESIDENT OF ID INSIGHT SPEAKS AT BAI CONFERENCE
ID Insight's Adam Elliott discusses"Address Dynamics" at banking industry event in November
St. Paul, Minn., June , 2004 — Adam Elliott, president and co-founder of St. Paul-based ID Insight Inc., recently spoke at the Banking Administration Institute (BAI) Identity Theft conference. The conference, titled "Combating Identity Theft and Payments Fraud", was held November 8-10 in Lake Buena Vista, Florida and featured fraud experts from top banking institutions as well as several fraud solution providers. Elliott, the former president of ChexSystems, Inc., discussed the implications of address dynamics in identity theft detection to conference attendees.
The BAI "Combating Identity Theft and Payments Fraud" conference is widely regarded as one of the most significant fraud prevention conferences of the year for the retail banking industry. Representatives from nearly all of the country's top retail banking institutions attended the event. The conference agenda was expanded this year to cover debit card and online bank fraud because of recent increases in these categories. Also among hot-button issues this year was the ever growing identity theft problem.
Elliott spoke about the role of address dynamics with regards to identity theft; and how a better understanding of this relationship could substantially reduce instances of identity theft within the banking industry. "It's all about the address," said Elliott. "Nearly every case of identity theft involves an address change. To truly prevent identity fraud, a system that can effectively differentiate legitimate address changes from fraudulent address changes is needed. I believe that we can offer some insight to the banking industry on how to go about sculpting such a system."
Elliott has an extensive background in both fraud detection and analytics. ID Insight, the company he co-founded, has recently developed a patent pending analytical engine that examines address manipulations and produces a risk score, indicating the likelihood of fraud. The engine, called Address Differential Analysissm, will be released to the market later this summer in the form of two products; NewApp Insightsm and TakeOver Insightsm.
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Media Contacts:
- Brian Bellmont for ID Insight, (952) 233-0428,
