Unpacking E-SIGN: Consent Process, Risks & Compliance

Strengthen your E-SIGN consent process while improving identity verification, fraud detection, and consumer protection for online account opening.

Compliance with E-SIGN requirements to open accounts online is one piece of the puzzle; knowing the “true identity” of the customer for BSA and CIP completes the process. The incidence of account takeover and new account fraud, where criminals use a victim’s personal information to open fraudulent new accounts, is growing. In 2025, over 67% of financial institutions reported year-over-year increases in fraud rates, with roughly 20-22% suffering losses exceeding $5 million. Consumer losses to scams and impersonators also surged roughly 25% over the previous year. It is critical that financial institutions use multilayered methods of fraud screening. Some of these methods will include email-specific data, IP, phone, and physical address information. This session will explain the intersection of E-SIGN security and fraud detection and provide valuable tips for educating consumers and identifying fraud.

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