New Account Fraud

New account fraud refers to a type of fraudulent activity where a criminal uses stolen or fictitious identities to open new accounts or establish credit in someone else’s name without their knowledge or consent. This form of fraud is often perpetrated in various financial transactions, such as opening bank accounts, credit card accounts, loans, or even applying for government benefits.

The objective of new account fraud is typically to obtain financial gains or to engage in illicit activities under the false identity. Fraudsters may gather personal information through various means, including phishing emails, data breaches, or social engineering techniques. They then use this information to create a new identity, often with fabricated or legitimate documents, fooling financial institutions or organizations into granting them access to credit or services. New account fraud can cause significant financial and reputational harm to individuals and businesses targeted by such schemes, requiring vigilant efforts to detect and prevent these fraudulent activities.

Discover Our Solutions

Exploring our solutions is just a click away. Try our products or have a chat with one of our experts to delve deeper into what we offer.


Unlock More Insights


2022 Deloitte Technology Fast 500™ Ranks Microbl…

Esteemed group includes global, award-winning, SaaS company with industry-leading number of customers touting triple-digit pe…

Seguir leyendo

3 ways automated document verification software sp…

Automated document verification software speeds up onboarding by reducing manual effort, improving accuracy, and enhancing co…

Seguir leyendo
Caso práctico del sector

A guide to getting remote identity verification ri…

We live in an age where we have dozens, if not hundreds, of online accounts. They form a core link between us and the service…

Seguir leyendo
Explore resources