1. Enter email address and some out-of-band information that only an existing-account-holder should know. Eg: a web portal for a utility company could ask for the account number and amount due from a recent bill.
2. Send confirmation email with a code/link.
3. After user enters a valid code, continue registration by gathering additional user details, password, and (usually) recovery Q&A.
The user account is not created until step 3; if they provide a fake email, it's as if the registration attempt never occurred. Absolutely no access is granted until after the final step.
The extra details in step #1 only works for website registration of a user that has a pre-existing relationship with the company, of course. For a new account, email address is all you should request at that point.