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New Account Fraud can be controlled
June 29, 2009

By Kevin Byrne, Senior Regulatory Consultant, Wolters Kluwer Financial Services

After reading the article below, you wonder how a person can successfully perpetrate new account fraud via identity theft at a financial institution (FI). Simply put, it shouldn't happen.

ID theft is now "old news" and we all know how the thieves get the information and what information they need to get on a person to attempt to steal identity. With name, address, TIN, DOB and mother's maiden name, ID thieves reacked havoc on unsuspecting consumers years ago. Suprisingly, it's still happening.

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