FACTA Archives

Digital Account Opening Requires a Leading-Edge Fraud Defense

Last month, an enterprise director of fraud for a large regional bank told me 5% of his new accounts were being opened online. He asked

Could New USPS Service Standards Affect Account Takeover Rates?

Only time will tell how or whether the new USPS standards will impact account takeover rates.

Founder Elliott Asks: Is it Time to Relegate Address Verification Letters to the Trash Heaps of History?

In a recent article for Great Lakes Banker, Adam Elliott, Founder and President of Kevari writes, “As you’re assessing opportunities to embrace modern technology and

Why You Can’t Afford an Old-Fashioned Approach to Address Changes

How do you distinguish legitimate address changes from fraudulent ones without causing undue customer friction? What you DON’T do: Rely on change notification letters. The practice of sending change notification letters to comply with Section 114b of the FACT Act Red Flags Rule does almost nothing to proactively prevent fraud. What you SHOULD do: Identify and pursue only the most suspicious address changes. While you’re at it, monitor all email and phone changes, too.

Podcast: Address-Change Verification Does Not Have to Grow on Trees or Cost So Much

A digital approach to verifying address, phone number, and email changes is more efficient, cost effective, and better at reducing fraud losses in today’s digital banking environment. There’s never been a more perfect time for financial institutions to retire those antiquated address-change letters.

Tag: FACTA

Digital Account Opening Requires a Leading-Edge Fraud Defense

Could New USPS Service Standards Affect Account Takeover Rates?

Founder Elliott Asks: Is it Time to Relegate Address Verification Letters to the Trash Heaps of History?

Why You Can’t Afford an Old-Fashioned Approach to Address Changes

Podcast: Address-Change Verification Does Not Have to Grow on Trees or Cost So Much

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