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What Is First-Party Fraud?

FICO

From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. Both of these crimes are first-party fraud.

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First-Party Fraud and the Hidden Drain on Revenues

FICO

For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. Both of these crimes are first-party fraud. Newer financial services providers are even more challenged, as well as telcos new to payment processing and retail finance.