New Account Fraud (NAF), 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.
NAF is a current and priority problem for banks today because it is hard to stop. The following datasheet briefly details:
More than 30% of online banking fraud comes from apparently legitimate customer accounts that are really under the control of fraudsters. At the same time, current fraud prevention solutions focus on preventing fraud by detecting the attack instead of the attacker so they are ineffective in tackling this threat.
The Fraudster Hunter tool, included in the bugFraud solution, has been designed to address this need that is impacting online banking channels. The following datasheet tells you:
The present digital transformation in Banking sector is promoting a high development of new attack tactics and methods with increasingly sophistication and speed of execution. bugFraud is an effective solution able to identify these attacks through a different approach based on the latest Behavioral biometrics and Deep Learning Artificial Intelligence technologies.
Here you will find:
Mobile banking has come to stay and cybercriminals know it. Mobile banking usage has grown exponentially in recent years and its transactions account for 73% of all of today’s fraudulent activities. bugFraud Mobile protects your mobile banking channel from the most sophisticated User Impersonation or Mobile Malware attacks in your Mobile banking channel by means of the latest Behavioral Biometrics technologies.
Here you will find details about: