Fraud prevention system and method for selectively generating virtual accounts

Disclosed embodiments may include a method that includes receiving, from a computing device, first identification information associated with a first user; determining a score based on the first identification information; determining whether the score is less than a threshold; when the score is less than a threshold, a one-time use number is pseudo-randomly generated and transmitted to the computing device. When the score is greater than or equal to the threshold, the method may include transmitting a second instruction to the computing device that prompts the first user to provide the second identification information. In response to receiving second identification information of the first user, the method may include determining that the second identification information matches the stored second identification information. In response to the second identification information matching the stored second identification information, the method may include pseudo-randomly generating and transmitting a one-time