NeuroID

If your organization operates in the digital space, you likely have a solid grasp of the threat posed by fraudsters. You’ve probably even spent some time getting acquainted with the most prominent aspects of account opening fraud detection. But if you aren’t familiar with pre-submit data, you’ll want to invest a few minutes learning about this game-changing concept. Maintaining effective fraud detection systems is challenging because the situation is never static. The bad guys are working overtime to level up their cybercrime abilities, and the fraud detection tools that were cutting-edge six or seven years ago have quickly become obsolete. Pre-submit data is the foundation for modern, effective fraud detection solutions. This article will help you learn about pre-submit data and its uses. The Problems with Post-Submit Data Before diving into the ins and outs of pre-submit data, let’s start with some context. Generally speaking, fraud detection depends on identity veri...

Successful growth in the digital space requires robust protection against a wide range of cyber threats. As these hazards evolve and bad actors concoct more devious schemes, so too must your fraud detection systems.  Every fraudster hopes to stumble across an organization that relies on outdated defenses without giving them a second thought. If your company still depends on PII-based systems for ID verification and fraud detection, odds are you’re an attractive target. With the advent of behavioral analytics software, however, businesses are more capable than ever of catching fraudsters before they can strike, intervening at the point of attack. This article will cover the most significant differences between behavioral analytics tools and PII-based measures. The Digital Identity Crisis Through phishing schemes, data breaches, and identity theft, vast troves of compromised PII have been made available on the darknet, where they wait to be purchased by the highest...

Each day, you can encounter all types of digital bad actors working in different locations worldwide, but they all have one thing in common: They’re looking for any vulnerability in your systems they can exploit to carry out their nefarious schemes. Once they gain access to your services, fraudsters can swindle you in practically no time. Or they can play the long game and linger for years before disappearing without a trace. New account fraud, in one form or another, is one of the tried-and-true methods fraudsters use to slip past your detection software. That’s why using top-notch ID verification measures is essential to help your business weed out users with malicious intent. If you’re concerned about identifying fraud, here are the fundamentals of new account opening fraud you should know. Armed with this information, you can better equip your business to catch bad actors before they strike. Stolen Identities It’s not the oldest trick in the book, but it’s close. Stealing some...

The worlds of commerce and finance have embraced online models. That's great news for thousands of businesses and financial institutions. Prospective customers and applicants can sign up for accounts from all over the world. As obviously beneficial as that is, the massive amount of business done online comes with an unfortunate byproduct—it attracts fraudsters. One of the most common and insidious forms of online fraud is new account fraud or new account opening fraud. The best way to protect your business from new account opening fraud is by understanding what it is and finding the most effective tools to combat it. Here's everything you need to know. The Threat of New Account Fraud New account fraud is a major online threat. For instance, identity theft crimes, including new account fraud, can cost organizations billions of dollars each year. Essentially, new account opening fraud involves fraudsters opening fraudulent accounts with personal information they hav...

If your organization is searching for new ways to thrive in the digital space, you and your team must be realistic about the challenges fraud presents, even if it hasn’t yet directly affected you. Fraudsters are more motivated, diligent, and creative than ever. Threats such as account opening fraud , account takeover fraud, and others are constantly adapting to gain an advantage. Your fraud detection strategies should evolve to stay at least one step ahead. Behavioral analytics offer the cutting-edge step your business needs to detect fraud attempts in real-time and achieve early intervention. Here are a few reasons why your organization should be using behavioral analytics. PII-Based Verification Is Easily Defeated The stark reality of digital ID verification is that fraudsters are running circles around systems based on static PII. The biggest reason? A large amount of compromised PII is floating around on the internet, available for purchase by bad actors looking to further their ...

The digital landscape has changed business forever—there’s no denying it. But this innovation has also brought about a change in criminal behavior. With the rise of internet businesses and eCommerce websites, there is a gap between you and your customers, which can make it much more challenging to detect their identity and intent on your own. But what if you could detect criminal and fraud ring activity on your business’ website before any major fraud losses occur? Stay prepared by learning everything you can about the digital identity crisis and how to protect your business and your customers from fraudulent activity. Let’s Talk About the Digital Identity Crisis The internet has made business transactions possible without face-to-face or even over-the-phone interaction. While this is convenient for everyone involved, it can also create a large gap between the business and the customers using it. Because you cannot see your customers face-to-face, it is easier for criminals or bots ...