American CBA LLC

Event Description

Online account opening gives financial institutions the ability to reach new customers and members quickly, but it also creates opportunities for identity theft, synthetic identity fraud, account takeover, stolen credentials, and fraudulent funding activity. Because the process occurs remotely, institutions must balance a fast, convenient user experience with controls strong enough to identify applicants who are not who they claim to be.

In this one-hour webinar, attendees will examine the most common fraud techniques targeting digital account opening and the points in the process where controls frequently break down. The session will explore risks involving identity verification, document authentication, device and behavioral data, application velocity, funding methods, mule accounts, and the transition from account approval to early account activity.

Attendees will also learn how layered technology, risk-based workflows, effective monitoring, and clear escalation procedures can reduce fraud without creating unnecessary friction for legitimate applicants. This practical session will help financial institutions strengthen their online account opening programs, protect customers and members, and improve coordination among Fraud, Deposit Operations, Information Security, Compliance, Risk Management, and frontline teams.

During this webinar, attendees will learn how to:

• Recognize common fraud schemes involving stolen identities, synthetic identities, account mules, and fraudulent account funding.

• Identify warning signs in application data, devices, documents, IP addresses, behavior, and account-opening velocity.

• Strengthen identity verification and authentication through layered, risk-based controls.

• Monitor newly opened accounts for suspicious funding, rapid movement of funds, and other early-life fraud indicators.

• Apply practical technologies, workflows, and escalation practices to improve fraud prevention while preserving the customer experience.