5 Strategies to Reduce Risk at Online Bank Account Opening


Thursday, December 8
2:00 p.m. EST / 11:00 a.m. PST


Digital bank account openings have soared since 2020 when the COVID-19 pandemic forced us to transition many of our in-person activities to online interactions. But as digital account opening options have become widely available, fraudsters have developed new ways to exploit them.

Synthetic identity fraud is now the fastest growing financial crime in the U.S., and fraudsters are capitalizing on existing blind spots with traditional fraud risk models – so much so that 50% of financial services fraud executives cite it as a top concern according to research by Aite-Novarica.1

Loss and fraud leaders at financial institutions (FIs), businesses and government entities must ensure the digital application processes they have in place can better detect misrepresented and synthetic identities and predict the likelihood of first-party account abuse and returned items.

Watch the webinar, co-hosted by industry experts from Early Warning® and Nacha, to learn:

  • Ways to ensure the digital application processes your FI has in place can effectively detect misrepresented and synthetic identities
  • How to predict the likelihood of first-party fraud, account abuse, and returned items at the point of new account opening
  • Strategies for answering the question “what account services and privileges can I offer?”

This webinar is approved for AAP renewal credit by Nacha.

1. Synthetic Identity Fraud: Diabolical Charge-Offs on the Rise, Aite-Novarica, February 2021
An executive at a religious financial institution is tempted to live a double life: empower the customers wanting to find their purpose or steal from the institution that helps them do so. A story of embezzlement, deceit and fraud.