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The Evolution of New Account Fraud

The Evolution of New Account FraudPublication Type:
White Paper

Published / Updated:

According to a newly released white paper, commissioned by GIACT, and produced by Javelin Strategy & Research, new account fraud (NAF) is evolving. Fraudsters have piled into the digital channel and, with years of experience under their belts, they are diversifying their targets and tactics.

The white paper tracks $3.4 billion in NAF losses in 2018 – a $400 million increase from the year prior. According to Javelin, "fraudsters have found new and unique ways to bypass the biographical traps setup by organizations, rendering certain validation practices too weak to solely rely upon for protection."

In addition highlighting the latest NAF tactics, the white paper also provides recommendations for protecting and preventing against NAF.

Topics covered:

  • Evolution and the migration of NAF to digital applications, lenders, mobile networks and others
  • How NAF continues to leverage more sophisticated identity fraud tactics, including the use of both synthetic identities and complete impersonations
  • How mobile phone accounts are being used to perpetrate fraud as well as the growing concern around familiar fraud
  • Consumer willingness to accept additional identity proofing


GIACT helps companies, from financial to insurance, verify valued customers and offer customer intelligence for complete payment confidence. The leader in providing real-time data to help mitigate payment risk and fraud, our OFAC screening, ID, mobile and account verification/authentication solutions enable you to focus on customer experience.

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