Application Fraud: Accelerating Attacks and Compelling Investment Opportunities

Application fraud, consistently among the top pain points for fraud executives at North American FIs, has gotten worse in 2020.

Boston, November 17, 2020 – The epic struggle between security professionals and legitimate participants on one side and the hackers and criminals on the other rages on and even finds itself significantly accelerated by the unprecedented disruption of a pandemic. Despite encouraging advancements in security capabilities and the efforts of thousands of principled and highly motivated security professionals, financial institutions still struggle to manage application fraud.

This Impact Report examines the latest trends in application fraud in demand deposit accounts and credit cards, how North American FIs are managing these risks, and why investments in application fraud controls continue to be among those with the most appealing business cases. It is based on an Aite Group online survey conducted from July to September 2020 to examine trends in application fraud for both DDAs and credit cards.

This 40-page Impact Report contains 30 figures and eight tables. Clients of Aite Group’s Fraud & AML service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Accertify, Accuant, Acxiom, Akamai, Arkose Labs, BehavioSec, BioCatch, Boku, buguroo, Callsign, Cleafy, Daon, DataVisor, Early Warning Services, Ekata, Entersekt, Entrust Datacard, Equifax, Experian, FIS, GBG, IBM Trusteer, ID Insight, ID R&D, IDMERIT, IPQualityScore, Incognia, Kasada, Kofax, LexisNexis Risk Solutions, MaxMind, Melissa Data, MicroBilt, Neothone, Neuro-ID, Neustar, Next Caller, NuData Security, OneSpan, Oneytrust, Optimal IdM, PerimeterX, Pindrop, Pipl, Precognitive, Prove, Radware, RSA Security, Samsung SDS, SecuredTouch, SEON, Signal Sciences, SpyCloud, Socure, Thales, ThreatMark, TransUnion, TrustID, TypingDNA, Visa, XTN, and Zumigo.

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