As of this writing in early March 2021, COVID19 vaccine deployments have given society a proverbial “shot in the arm”, granting a tantalizing view of life in the after-days. Given demonstrated vaccine efficacy, the US and the world at large are slowly grinding toward a return to coveted “normalcy” -- we just need to remember that there was much bad along with good prior to entering the Coronavirus cloud.
Topics: regulatory compliance, authenticating drivers licenses, fraud news, authenticating driver's licenses, fraud prevention protection, counterfeit fraud prevention, mobile fraud, remote fraud, application fraud, new account fraud, identity verification, identity authentication app, mobile, trends, identity fraud
• TABLE OF CONTENTS •
What is New Account Fraud?
New Account Fraud Stats
The Link between Identity Theft and New Account Fraud
Why New Account Fraud is so Attractive to Criminals
Why New Account Fraud is Difficult to Detect
New Account Fraud Prevention Tips
For many years, credit card fraud has been the favored method for fraudsters seeking to profit from stolen identity information. The ease with which a criminal could use a victim’s card information and the generally widespread availability of stolen card data made credit card fraud the simplest and lowest-risk option for the average criminal.