The eBook explains how new account fraud (NAF) has become one of the fastest-growing cybercrimes, costing businesses $5.3 billion in 2023. Driven by automation, data breaches, and digital transformation, fraudsters use bots, synthetic identities, and dark web data to create fake accounts that exploit promotions or steal funds. Nearly half of all fraud losses occur during account creation. Traditional defenses fail because they focus on transactions instead of registrations. Ping Identity recommends layered defenses like behavioral biometrics, contextual risk assessment, identity verification, and bot detection integrated through modern IAM to stop fraud early and preserve customer trust.

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