Webinar Archive
Best Practices for Preventing New Account Fraud
Best Practices for Preventing New Account Fraud
New accounts are the lifeblood of any retail bank, but also a favorite target for criminals intent on defrauding your institution. While banks and credit unions incur fraud losses through the entire lifecycle of a deposit account, studies show that a significant proportion of deposit account fraud losses occur when the account is still new - typically within the first 180 days. According to a 2007 study by the American Bankers Association more than 26% of all fraud losses occur in the first 180 days an account is open.
We cover trends and statistics related to new account fraud, as well as present a new approach for detecting and investigating new account fraud in the face of ever-sophisticated criminals intent on defrauding your institution.
Listen to the presentation given by leaders in the industry.
- Virginia Garcia, Senior Research Director at TowerGroup and a recognized expert on enterprise risk and fraud management.
- Michael Mulholand, Director, Fraud Solutions Strategy at Memento, and a leading industry expert on payments fraud.