BETHLEHEM, Pa. — According to Edentify CEO Terrence DeFranco, reports that identity theft is on the decline should be taken with a grain of salt. “Most surveys are only related to one category, that which the victim knows about,” said DeFranco. “The reality is usually the victim is the last to find out and in many cases of identity fraud the victim never finds out, so it is like saying I’m going to track murders only but not the overall crime in an area–it’s very misleading.”

What further complicates the identity fraud issue is that as financial institutions and consumers get better at protecting against true name fraud synthetic identity fraud continues. DeFranco says that this particular type of fraud is more of a crime against an organization rather than an individual victim.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.