Fraud & Risk
Whose Credit Line Is It Anyway? The Growing Problem of Account Origination Fraud (and What You Can Do to Stop It)
Account origination fraud occurs when a credit or bank account is opened with fraudulent or falsified information and costs the banking industry, businesses, and consumers billions of dollars each year. In response, Neustar conducted a study in conjunction with American Banker to better understand how account origination fraud impacts organizations as well as catalog how companies address account origination fraud today and how they plan to in the future. The paper also helps identify which needs and challenges remain to tackle account origination fraud and outline the solution features that can help organizations effectively combat it.