Knowledge Base

Get up to speed with financial regulations, KYC and due diligence requirements, and AML, CFT, Sanctions and anti-bribery policy.

Identity Fraud

Identity Fraud occurs when a fraudster abuses personal data or identity details in order to impersonate an innocent party, or creates a fictitious identity, in order to open a new account or take out a new product.

Identity Fraud is crystallised when identity details of an individual or entity obtained via theft or deceptive means are used to avoid an obligation or liability or misrepresent with intent.

Ref. http://www.academia.edu/1018808/Defining_identity_crimes