New account fraud has been skyrocketing with an estimated 109% increase in losses last year. The growth has been helped by economic relief programs rolled out during the pandemic and competitive marketing campaigns designed to increase customer acquisition which have proven to be highly lucrative avenues for fraudsters.
Join us for a live conversation with Suzanne Sando, Senior Analyst, Fraud and Cybersecurity at Javelin Strategy & Research, where we will discuss the problems that financial institutions are facing in the digital account opening process, from application fraud to mule accounts, and practical tips on how to overcome them.
The event will cover:
- The reasons behind the increase in new account fraud and the impact on consumers
- What legacy fraud controls are missing, and new ways of tackling the problem
- Recommendations for optimizing account opening processes for security and convenience