The Growth of Sophisticated Digital New Account Fraud Attacks

New account fraud increased to $4 Billion in 2019, and that is only the beginning as synthetic fraud often goes undetected. The challenge for fraud and digital teams is the need to reduce losses while increasing approval rates to onboard new customers, which sometimes creates organizational friction depending on the strategy deployed. However, the sophisticated nature of the attacks requires both teams to come to the table to understand the attacks and collaborate on the solution to improve revenues. 

 

Join Krista Tedder of Javelin Strategy & Research and Robert Capps of NuData, a Mastercard company for this insightful presentation. 

 

Attendees of this session will learn – 

 

• The technology criminals use to orchestrate multiple attacks simultaneously and get through defense

• The fraud as a service model of human fraud farms and how they impact financial institution

• Understanding how criminals attacks can ultimately be used to increase new accounts while preventing fraudulent accounts from being opened