shufti_pro_img Report - New Account Fraud, What Is It And How To Cope It?
Search
Generic filters
shufti_pro_img
Report

New Account Fraud- A new breed of scams

Banking customers around the world are conducting most of their business online more than ever. According to Capgemini, by 2022 global non-cash transactions are expected to reach $1 trillion.

1412
Download

    Name *
    Company Email *
    Company Name *

    I agree to receive the latest updates, information, and relevant offers from Shufti Pro.

    What’s Inside?

    • How does New Account Fraud work?
    • A brief history of fraud
    • Current trends in New Account Fraud and Tactics used by fraudsters
    • Never-ending consequences of the New Account Fraud
    • Direct losses from fraud
    • Time to Act- How banks can protect against New Account Fraud?

    As more customers move online so do cybercriminals. Criminals are always probing defences and finding new ways of committing fraud at scale, while also taking precautions to stay undetected. New Account fraud is one of those new ways. There are of course multiple frauds but New Account Fraud (NAF) is the most expensive form of identity fraud to both organisations and consumers.

    In this report, you will find what NAF is and how to protect your business from fraudsters.

    NAF is hard to spot. Fraudsters either use legitimate information stolen secretly from real consumers, or they stitch together synthetic identities using this and fake info. Either way, it can be difficult for traditional filters to detect using threat intelligence feeds and static data. However, placing ID documents checks and physical biometric checks could help in correctly identifying the fraudsters.

    Using identity verification tools like document scanning or digital identity networks alongside risk assessment like KYC and biometrics can meld verification that the identity exists and is legitimate with an assurance that the individual applying is not a fraudster and truly owns the identity being claimed.

    Shufti Pro’s approach to identifying and eliminating fraudsters during account opening or customer onboarding could easily help in catching fraudsters while keeping the real customers intact by providing frictionless onboarding.

    • travel

      Shrinking the Space for Travel Industry Scams with Biometric Verification

      View Detail Report
    • new-resize

      Global Gambling Compliance: Regulations, Age Checks & Financial Safety

      View Detail White Paper
    • KYC Guide

      A comprehensive guide to KYC and AML compliance in Canada

      View Detail Product Guide
    • NFC-report

      NFC Verification: Not Cutting Any Corners With Remote ID Authentication

      View Detail Report
    • Digital COVID

      Digital COVID Pass for PCR Test Verification

      View Detail Report
    • Global Identity Fraud Report 2020 - Shufti Pro

      Global Identity Fraud Report 2020

      View Detail Report
    • Know-your-Patient

      Know Your Patient – A 360° view of patient identification in healthcare

      View Detail White Paper
    • image-report

      Enhanced AI – Augmenting Identity Verification with Artificial Intelligence

      View Detail Report
    • Kyc Guide Uk

      A comprehensive guide to KYC and AML compliance in the UK

      View Detail Product Guide
    • Insurance

      Growing Frauds and Financial Crime in Insurance and the Role of Digital KYC

      View Detail White Paper
    • Banking on Biometric

      Banking on Biometrics: The Future of Customer Authentication

      View Detail White Paper
    • ocr-img-whitepaper

      Fully Embracing Digital Transformation with Automated AI OCR Engine

      View Detail White Paper
    • GCC report

      Rising trend of KYC/AML compliance in GCC countries

      View Detail Report
    • video-kyc-product-guide

      Video Interview KYC – Efficient & Secure Customer Onboarding

      View Detail Product Guide
    • real estate

      Need for Identity Verification To Deal With Money Laundering Threats in Real Estate Sector

      View Detail White Paper
    • Remote-onboarding

      Onboarding Remote Employees: How Identity Verification Can Reduce Risks in Hiring Process

      View Detail White Paper
    • Whitepaper healthcare

      How Automation will Improve Operational Efficiency in the Healthcare Industry

      View Detail White Paper
    • Whitepaper telecom

      Automated ID Verification System to Tackle Telecom Frauds

      View Detail White Paper
    • whitepaper KYC-AML-compliance-for-ICOs

      Launching an ICO? Learn Why KYC and AML Compliance Matters

      View Detail White Paper
    • fintech-customer-video-KYC-img

      Fintech customer onboarding through video KYC

      View Detail White Paper
    • Impact-of-regulatory-changes

      Impact of Regulatory Changes in the Financial Sector

      View Detail Report
    • New account Fraud

      New Account Fraud- A new breed of scams

      View Detail Report
    • KYC-in-Gaming-Industry

      Tackling fraud while giving a seamless experience to the players

      View Detail White Paper
    • How Businesses can prevent fraud during COVID-19

      How businesses can prevent fraud during COVID-19

      View Detail White Paper
    • Need for online age verification to protect minors

      Need for Online Age Verification to Protect Minors

      View Detail White Paper
    • Biometrics for Identity Verification

      Biometric Technologies Reshaping Identity Verification

      View Detail White Paper