Javelin’s September 2020 report, “Identity Fraud in the Digital Age,” drove home (again!) the need for financial institutions to work smarter, faster, and more collaboratively to stop the increasing prevalence of account takeover and new-account fraud.
Criminal account takeover incidence increased 72 percent in 2019, according to the report. And new non-card-based accounts exhibited more fraud than new credit card accounts for the first time ever.
To help reverse these disturbing trends, ID Insight created a new collaborative network that makes it easy for fraud investigators to join together in the battle against account takeover and new-account fraud. By taking advantage of their peers’ efforts and insights, investigators can successfully keep more fraud out of the banking system.
- Improve catch rates for account takeover and new-account fraud
- Reduce false positives that create customer friction
- Improve the efficiency and focus of investigations