Identity Fraud: Account Origination

Bala Kumar of iovation, a TransUnion company, sees a marked spike in identity fraud in general, and at account origination in particular. How does this increase manifest across industry sectors, and how should organizations re-think their defenses?

"The fraudsters are constantly evolving," says Kumar, chief product officer at iovation, a TransUnion company. "They experiment with different attack vectors and try to find the path of least resistance. We see a couple of different approaches: 1) They try to come in through different channels, and 2) Once they figure out the channel they want to come through, they apply different fraud tactics."

In an interview about account origination fraud, Kumar discusses:

• The spike in identity fraud;
• How account origination fraud manifests in different sectors;
• How to improve fraud defense at account origination.

Kumar is a seasoned product executive and growth leader with proven track record of launching highly successful products and accelerating revenue growth. He also has extensive consulting experience that complement product expertise to deliver innovative game-changing solutions. These have made a significant impact on customers and delivered double-digit revenue growth year over year. Prior to joining iovation, he was Head of Product for TransUnion's IDVision suite of solutions.