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New Account Fraud: Uncovering The Tools And Tactics Of A New Breed Of Scams Introduction
To enhance customer experience, banks are closing branches in favor of digital services to meet the growing demand of tech-savvy users.
A big risk of this change is new account fraud, which is a cyber scam where bad actors use stolen or synthetic identities to open accounts and borrow money.
What���s more is that fraud is 15 times more likely to originate from a new account versus one established for over 30 days. Banks are having to balance quick-and-easy onboarding with financial and reputational risk. Want to learn more?
Read this white paper to get a closer look.