Tackling Fraud in Account Opening

From the billions pumped into unemployment and other economic relief programs during the pandemic to competitive marketing campaigns designed to increase customer acquisition, fraudsters have never had a better incentive to commit new account fraud. This session will highlight the problems financial institutions are facing in the digital account opening process, from third party fraud to mule accounts, and practical tips on how to overcome them.

This session will cover:

• What legacy fraud controls are missing, and new ways of tackling the problem;
• How fraud, risk/AML teams, and line of business owners can work together better;
• How to balance business priorities of reducing fraud risk while increasing customer acquisition.