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Showing posts with the label identity theft rings

3 Essentials for Expanding Your Online User Base This Year

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If expanding your user base is key to achieving your organization’s goals this year, you may be preparing to implement a new user acquisition strategy. There are many ways to incorporate new techniques into your current processes, and your plan may ultimately be as unique as your business itself. Regardless of your organization’s size or industry, there are a few methods that everyone can depend on for tangible results. Whether you’re focused on growing the user base for your app or your site—or both—it’s best to start with a tried-and-true game plan rather than trying your hand at the uncertainty of trial and error. Remember, you don’t want to get stuck with tunnel vision. As you develop your user acquisition strategy, be sure to factor in robust new account fraud detection tools. Start planning with this list of three surefire means of expanding your user base without inviting attacks from bad actors. Pursue App Store Optimization If you want people to find, download, and regula...

The 3 Things Entrepreneurs Get Wrong About New Account Fraud Detection

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It’s difficult to imagine starting any business in 2022 without a digital presence. Whether you create an app for your members, process payments online, or email coupons to your subscriber list, nearly every company sees the web as a vital avenue to success. Despite the ubiquity of the World Wide Web, many entrepreneurs and business leaders struggle to secure their digital operations against would-be fraudsters. But fraud is a booming industry, and the bad guys spend long hours identifying and exploiting vulnerable organizations. Getting new account fraud detection right is critical to protecting your company. Learning from the mistakes of others is an excellent way to avoid the same missteps and secure growth for your team. Learn about these common mistakes entrepreneurs make when it comes to fraud detection. Not Taking New Account Fraud Detection Seriously To most people, fraud sounds like a petty crime with no real victim; there’s just nothing edgy about it. Fraud ...

Understanding Digital Threats: Fraud Ring Attacks

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Upon hearing the term “digital fraud ring,” most business owners fall into one of two categories. For many, the fraud ring is a nebulous notion of ineffective, low-level criminals scamming grandparents out of a few bucks here and there. But business owners who have experienced an online fraud ring attack firsthand understand precisely how devastating these incidents can be. Hopefully, you’re motivated to place yourself in a third category: that of the savvy business leader who takes digital threats seriously, keeps up with the latest new account fraud detection methods, and does what’s necessary to secure growth. If you’re ready to learn about sophisticated fraud rings and what it takes to stop them, here’s everything you need to know about this genuine threat. What Is a Fraud Ring? A fraud ring is simply a group of cybercriminals working together to enact their chosen form of fraud. According to some estimates, over 30,000 potential fraud rings currently exist worldwide. Unlike lo...

Securing Digital Growth: How to Get Ahead of a Fraud Ring Attack

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Your company, like many others, is pulling out all the stops to thrive in the digital space. But if you aren’t similarly motivated to employ modern new account fraud detection systems, you could see all your hard work wiped away by a fraud ring attack. If you want to expand your online presence, it’s time to face the facts: Fraud rings are working overtime to test for and exploit vulnerabilities. Factors like your industry and the size of your organization don’t matter. Every business with an online presence is a potential target, and you may not know you’re at risk until it’s too late. That’s why it’s crucial to protect your company with innovative tools to help identify fraud rings at the point of attack. You need to detect risky applicant behavior in real time to ensure your step-up verification systems can intervene at a moment’s notice. Here’s everything you need to know to understand the threat landscape, evaluate your organization’s exposure, and learn about robust...

4 Reasons PII-Based Fraud Detection Systems Are Quickly Becoming Obsolete

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The online marketplace is rife with bad actors, and your organization needs to expand its digital presence to remain competitive. Many companies use the same old formula for identity verification—offer an application for new users and decide whether they’re genuine based on the PII they submit. You may not know it, but fraudsters have been studying these digital defenses for years and are more than capable of getting past them. This leaves unprepared organizations open to fraud ring attacks, bot attacks, and more. However, there are innovative tools you can incorporate to modernize your new account fraud detection systems. Read on to learn about the pitfalls of PII-based systems and what strategies your company should use instead.  Compromised PII is Widely Available Whether through data breaches, phishing attempts, or even more devious means, the bad guys are constantly working to steal PII. Stolen and otherwise compromised PII often ends up being sold on the darknet,...