WASHINGTON -- Leading corporate, government and academic institutions have joined together to form a new group that will focus on developing research and solutions for identity management challenges seen in today's society.
The Center for Applied Identity Management Research will bring together experts in criminal justice, financial crime, biometrics, cyber crime, cyber defense, data protection, homeland security and national defense to exchange ideas and provide insight on issues such as cyber crime, financial crimes, identity theft and fraud.
"We'll look at identity management from a broad spectrum. We'll bring together people who wouldn't normally come across each other to talk and exchange ideas," said Gary Gordon, executive director of CAIMR.
Gordon said the group will be able to research a number of compliance issues that credit unions face such as Red Flags, Fair and Accurate Credit Transactions Act and cyber crime issues.
"We want to provide research that will bring a new understanding so that identity management issues can be improved," Gordon said.
CAIMR's research planning committee will meet this month to discuss policies and procedures and will meet again the first week in December to decide on research projects they will work on. Gordon said that they will have an overall vision of the research they will be conducting by the end of the year.
One study Gordon said the group will be focusing on that can be beneficial to credit unions is examining how criminals hide in plain site.
"By learning how criminals mask their identity we can look at how they might use that threat to a financial institution," Gordon said.
Norm Willox, chairperson of CAIMR and chief business officer of LexisNexis, said that CAIMR will be looking at big issues in society such as mortgage fraud.
"Mortgage fraud is an issues that financial institutions are concerned about as well as every citizen in our country now," Willox said.
Gordon said CUNA and NAFCU can also propose research to be conducted on topics and issues that plague credit unions to CAIMR's research planning committee.