New Account Fraud with Javelin’s Suzanne Sando Digital Tells A BioCatch Podcast

In Episode 8 of Digital Tells we speak with Suzanne Sando, Senior Fraud and Cybersecurity Analyst at Javelin Strategy and Research. BioCatch recently published a report written on our behalf by analysts at Javelin Strategy and Research titled New Account Fraud A Threat Down Every Avenue (https://www.biocatch.com/resources/analyst-report/new-account-fraud-a-threat-down-every-avenue).In this discussion, Suzanne discusses many aspects of new account fraud, including identity theft and synthetic identities, stimulus fraud, the rise of Buy-Now-Pay-Later (BNPL), money laundering and anti-money laundering compliance, and opportunities for financial institutions to address these increasingly hot challenges.Peter Beardmore BioCatch recently published a report written on our behalf by analysts at Javelin Strategy and Research. It's titled New Account Fraud A Threat Down Every Avenue. There's a link to the report in the show notes. And in the run up to the report's publication, I had an opportunity to talk with its principal author, Javelins Suzanne Sando. We talked about a range of topics from scams to mule accounts to buy now, pay later, and identity theft, all relating to the challenges institutions face when it comes to new account fraud and strategies for dealing with these challenges. If you're a regular listener to the podcast, you know that normally I script a narrative infused with clips from conversations I've had in preparation for each episode. But for this episode, we've decided to switch it up a little, mostly because I don't think there's really anything to improve upon Suzanne's commentary on all the topics we discussed. So here it is, my complete discussion with javelins. Suzanne Sandow, thanks for taking the time to talk with us today.Suzanne SandoAbsolutely.Peter BeardmoreSo, Suzanne, let's get started with just some introductions. Can you tell us what you do and what your origin story is, how you got to where you are?Suzanne Sando Sure. I wish it was interesting in some of these Marvel movies I've been watching, but. So my name is Suzanne Sando. I am a senior fraud and cyber security analyst at Javelin Strategy and Research. And I've been there about two years prior to getting into the analyst role. I was actually doing a lot of behind the scenes coding work. So I worked for a major financial institution in the U.S. and I did a lot of payment systems, back end coding, worked a lot of personal information, a lot of private data. So I kind of have that technology background that I bring to this new analyst role.Peter BeardmoreSo you've been working on a number of reports. Javelin just released, a fairly large identity related study,