New account fraud, also known as Account Opening Fraud or Online Account Origination Fraud, is when fraudsters use stolen or synthetic identities to open new bank accounts, with a view to maxing out their credit limits before disappearing into thin air, usually within 90 days.
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ABOUT THE COMPANY
buguroo provides a complete solution in the market for combatting online banking or financial services fraud. It identifies the highest number of customer identity theft and manipulation attacks, using Behavioral Biometry and Malware Detection to alert upon detection of any anomalous behavior during the entire customer session, including the opening of new fraudulent accounts.