Payments on Fire™ Episode 280 - Reflections on Fraud in 2025 and What Lies Ahead, with David Maimon, SentiLink
Nov 20, 2025
David Maimon, Head of Fraud Insights at SentiLink, examines the evolving landscape of fraud as 2025 approaches. He discusses the challenges in measuring identity theft due to underreporting, highlighting alarming trends with synthetic identities exploited by fraud rings. Maimon reveals dark-web pricing for stolen identities and warns about the risks of insider threats in remote hiring. They also explore the impact of agentic AI tools on fraud, advocating for stronger industry collaboration and clearer regulations to combat these growing risks.
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Identity Theft Keeps Rising Despite Controls
- Identity theft reports have risen steadily since 2001 despite heavy investment in controls.
- The FTC and Pew data show widespread victimization, indicating controls aren't reducing identity-targeted fraud.
Societal Fraud Losses Are Largely Unknown
- Measuring societal fraud losses is unreliable because reporting gaps and unseen synthetic cases hide scale.
- David Maimon argues organizations without systematic loss tracking cannot credibly claim total societal fraud losses.
Stop Normalizing Fraud Through Write-Offs
- Don't underwrite unlimited tolerance for fraud write-offs because that fuels criminal experimentation.
- Tighten thresholds and controls before losses normalize and embolden bad actors.