New Account Fraud is when using another’s personal identifying information to obtain products and services using that person’s good credit standing.
This “New Account Fraud” often requires use of the victim’s Social Security number.
Opening new utility, cell phone and/or credit card accounts are the most prevalent forms of new account fraud.
Ref.: http://www.acfe.com/uploadedFiles/Shared_Content/Products/SelfStudy_CPE/Financial%20Institution%20Fraud%202013_Chapter%20Excerpt.pdf