Assessing the risk of fraud on your active accounts

Undetected fraud, committed through existing customer accounts, is a real threat to you and your customers

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The new normal has changed the face of fraud

Undetected fraud, committed through existing customer accounts, is a real threat to you and your customers. Fraud checks are only as effective as the information available at the time. Fraudulent activity may be missed during the acquisition process, making it increasingly important to regularly check your current customers because their situations could have changed.

The last few years has seen a lot of change in millions of peoples lives, their personal circumstances have changed and as a result there has been an increase in fraudulent activity. Do you know your customers? Do you know their current personal circumstances?

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Are you protecting your active accounts from fraud?

Check your current open accounts today by requesting our free fraud assessment report**. The fraud assessment report will help you understand if there is potentially fraudulent activity in your customer base, giving you the insight to make informed decisions.

Request your free fraud assessment report

Fraud is on the increase...

68,083

misuse of facility cases

38,421

facility takeover cases

309,849

cases of fraudulent conduct

185,578

cases of identity fraud

Source: Cifas Fraudscape 2021 report

Request your free fraud assessment report** to understand if there is potentially any fraudulent activity in your customer base

Young woman using a credit card with her tablet

Open Account monitoring: Why detecting fraud isn’t a one-off action

The Covid-19 pandemic has changed the financial profile of many consumers, in ways we never could have imagined just two years ago. The knock-on effect of furlough, redundancy and pay cuts might mean that your customers are now committing fraud just to get by.

Systems and processes to identify potentially fraudulent activities need to keep up. We take a look at why monitoring open accounts is more important now than ever, and how businesses can adopt a continuous monitoring process.

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