What is identity fraud?
Identity fraud occurs when a fraudster uses stolen personal information for their financial gain. This can be a real person or a combination of real and fake information, which is known as a synthetic identity. Fraudsters then use this stolen identity to open new bank accounts, apply for credit or attempt to take over the victims bank account.
How GBG can help you detect and deter identity fraud
The best way to detect identity fraud and deter fraudsters, is to stop them at the front door. With GBG you can layer data and document checks at the point of onboarding a new customer. This approach enables you to confirm that the identity exists, verify that the person presenting it is real and flag any associated risks with the identity, empowering you to keep fraudsters out while onboarding good customers.