New account fraud happens when a user creates a new account to abuse sign-up, referral, and free trial bonuses. Bad actors and known customers alike can perpetuate new account fraud. For example, a bad actor may commit new account fraud using stolen identity data. Using stolen data makes it harder for businesses to determine if the account belongs to a legitimate customer.
But even known customers can commit new account fraud using multiple email addresses or aliases to abuse free trials or first-time-user discounts. Or they may send referral codes to fake or fraudulent email addresses. Any business that offers free trials, sign-up incentives, or referral bonuses is susceptible to new account fraud and other related fraud use cases, like promo and policy abuse.
Protect free trials, sign-up, and referral incentives
Improve customer experiences at sign-up
Increase customer retention
Prevent promo abuse and reduce fraud losses
Spend marketing budgets effectively
Improve business operations
With Kount’s new account fraud prevention solution, businesses can customize policies and behavioral controls around account creation and sign-up. Behavioral controls include policies that limit devices and emails used in new account activity.
Kount’s Trusted Device capabilities can stop bad actors from signing up for multiple accounts from one device. Businesses can customize controls to prevent users from registering several new accounts from one device. Similarly, Kount’s Email Insights uses machine learning and global network data to evaluate a user’s email’s risk and usage trends.
For example, let’s say a bad actor is using false email addresses to open new accounts for sign-up and referral bonuses. Kount’s solution could tell the business more about the email’s date first seen and last used. The solution would also reveal more about the customer’s likelihood of return business and the email address’s associated transaction volumes, refunds, and chargebacks.
From new account opening to checkout and payment, Kount’s solutions offer complete customer journey protection. Prevent digital fraud with Kount Command, the leading AI-driven solution that delivers accurate identity trust decisions in milliseconds. Kount’s AI delivers the most accurate evaluation of risk and trust so that businesses can block or challenge fraud in real time.
Provide frictionless login experiences for good customers and challenge suspicious activity that can lead to account takeover. Kount Control detects high-velocity attacks from bots, card testing, credential stuffing, and other malicious activities. The solution combines machine learning, device intelligence, and customizable business policies to identify risky login behavior in real time.
Kount’s solutions protect your business from new account fraud