What is 'Sleeper Fraud,' And Why Must Banks Beware?

Image Source: Article

Image Source: Article

The surge in data breaches has left millions of consumer records and personally identifiable information compromised, giving fraudsters all they need to open fraudulent accounts aimed at scamming banking institutions out of big dollars.

Greg Shelton, director of first-party collections within the financial services division of LexisNexis Risk Solutions, calls this emerging first-party fraud scam "sleeper fraud," and it's becoming a critical problem, he explains during this interview with Information Security Media Group.

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