10 Ways to Prevent New Account Fraud

However, most attempts can be thwarted by attentive, knowledgeable staff. Take this opportunity to get expert insight on 10 ways new accounts staff can detect and prevent fraud using tools such as CIP, red flags, new account holds, and more. This is your opportunity to spend a little to save a lot – of time, money, and resources.

• Detect identity theft and fraudulent IDs
• Stop business account fraud
• Understand check rules to identify check fraud
• Protect deceased accountholders and their accounts
• Use CIP to prevent fraud
• Notice the signs of elder and caregiver fraud
• See the warning signs of human trafficking at new account opening
• Effectively use the new account hold, refusing to open accounts, and closing accounts when needed