New Account Fraud: A Threat Down Every Avenue

New account fraud losses increased 109% last year with the average amount stolen per consumer over $2,700. Between economic relief programs rolled out during the pandemic to competitive marketing campaigns designed to increase customer acquisition, new account fraud continues to be a highly lucrative business for criminals.

Access the latest research from Javelin Strategy & Research which explores the reasons behind the drastic increase, the impact on consumers and what financial institutions can do to address vulnerabilities in the digital account opening process.