The Rise of New Account Fraud: Best Practices in Identification and Verification

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As EMV has become widespread, the traditional avenues for card fraud have become dead-ends for fraudsters who are now targeting industries with weaker defenses, including store-branded cards, e-commerce, and auto, mortgage, home equity and student loans. According to Javelin Strategy and Research’s 2019 Identity Fraud Study, losses due to New Account Fraud (NAF) increased by $400 million in 2018.

At the same time, consumers continue to demand robust online and mobile channels for everything from enrollments to transacting and more. Firms across nearly all industries must bolster their NAF prevention tools while simultaneously developing their digital service capabilities.

Join Al Pascual, SVP and head of fraud & security at Javelin and GIACT’s David Barnhardt, EVP of product, to learn the latest developments from Javelin’s 2019 Identity Fraud Study and best practices for reducing NAF as well as how to reconcile security with a frictionless customer experience.


What You’ll Learn

  • Learn the latest new account fraud (NAF) insights from Javelin’s 2019 Identity Fraud study;
  • Best practices for reducing NAF and bolstering NAF prevention; and
  • How to reconcile security with a frictionless customers experience.

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Nacha Provides ACH Network Rules Update
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Nacha Provides ACH Network Rules Update

Organizations increasingly rely on ACH to facilitate payments. To keep users up-to-date, Nacha — who oversees the ACH Network — provides regular updates to its members on new developments, rules and enforcements. To get a preview of what to expect in the next 12 months impacting ACH payments — from micro-deposit verification, increased payment limits, to account validation enforcement — join Nacha’s Director of ACH Network Rules and GIACT (a Refinitiv company) at 1 PM ET Wednesday, June 22 for a complimentary webinar.

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Whitepaper_Reducing Insurance Fraud Through Enhanced Identity Verification
Identity
Reducing Insurance Fraud Through Enhanced Identity Verification

In the last two months of 2020, two-thirds of home buyers placed bids on properties without ever seeing the home in person. To operate in 2022, mortgage lenders increasingly rely on their online platforms to facilitate home buying and refinancing. While digital identity verification is critical to any online loan application, many mortgage lenders are considering how best to balance customer experience and risk.

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