New account fraud: A new breed of scams

New Account Fraud: Uncovering the Tools And Tactics Of A New Breed Of Scams

Cover

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.

Vendor:
Buguroo
Posted:
16 Oct 2020
Published:
16 Oct 2020
Format:
PDF
Length:
11 Page(s)
Type:
White Paper
Language:
English
Already a Bitpipe member? Login here

Download this White Paper!