While point-of-sale (POS) fraud may be on the decline, fraudsters are renewing their focus on new account fraud. New-account fraud can often go undetected for months unless the victim monitors for suspicious activity. And in the case of synthetic ID fraud, in which the fraudster creates a fake identity, the scam can go undetected for much longer.
Therefore, organizations must employ multiple layers of defenses that can accommodate shifts in fraudsters’ strategies. With the right mix of fraud-mitigation tools, organizations can not only minimize losses, but also improve risk management and staff productivity.
Read our white paper to learn how a suite of fraud mitigation products can help address two typical scenarios of new-account fraud:
- Synthetic identity fraud
- True-name identity fraud
And read about the six challenges in dealing with fraud.