Once bad actors have created a fraudulent account, they have a wealth of options at their fingertips. They could open new accounts to gain instant credit, launder money or generate value through promotional abuse, which can cause reputational damage to merchants’ platforms and result in chargebacks that eat into profits.
The Account Opening API utilizes a set of network signals that provide insight on the legitimacy of credentials a user inputs when setting up an account to assess the risk of the customer onboarding in process.
