Why Fraud Prevention Systems are Falling Behind

New account fraud losses continue to sharply increase, according to Javelin Strategy & Research. Organizations, specifically those in finance, telecom, ecommerce and gaming find it challenging to combat fraud in real time throughout the customer lifecycle. In an environment where criminal syndicates can easily create vast numbers of fraudulent new accounts and take over existing, high-value accounts by using advanced technology, legacy fraud prevention systems struggle to keep up.

Comprehensive Solutions Are Key to Fraud Prevention

This report explores the immediate and long-term risks associated with new account fraud (NAF) for organizations and consumers, and establishes a case for employing robust identity proofing and authentication solutions to better stop fraud throughout the entire account lifecycle.

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