In the evolving landscape of financial crime, first-party fraud poses a significant threat to the financial services industry. This panel will explore the complexity of this fraud, innovative strategies to combat it, and the challenges in distinguishing it from synthetic identity fraud and identity theft. Discussions will cover how advanced analytics can identify unique fraud behaviors and the critical role of classification frameworks. Additionally, the benefits and challenges of multilayered defenses and the impact of AI on mitigation tools will be highlighted. Join this session to learn about the latest approaches and solutions for tackling financial fraud.