Insights have found the switch to more digital transaction since the start of the COVID-19 pandemic show that individual and organizational risk is even greater now.
Penny Crosman writes in American Banker about the rise in identity fraud in the past year; citing a Javelin Strategy...
While statistics vary year by year, there was a 79 percent increase in document fraud in 2022. Such a number doesn't come as a surprise to Inscribe fraud analyst Daragh McMeel. A rise in fraud rates often occurs when the economy travels an uncertain and difficult path.
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Organized crime groups are exploiting gaps in detection technology to orchestrate financial fraud on a massive level simultaneously across multiple businesses and geographies. The result? Actual fraud rates are multiple times higher than reported
American Banker takes a look at the new blockchain-based system for identity verification from Spring Labs; while 16 online lenders...
A record number of Americans experienced identity fraud in 2017, that represents an 8 percent increase from 2016; according to a study by Javelin 16.7 million people were hit by identity fraud; the rate of increase for identity fraud has slowed from 2016 but Americans that were notified about a breach also went up 30 percent; fraud prevention has become one of the main topics in fintech and banking as companies look to leverage new technologies like AI and blockchain for solutions. Source.
According to a 2018 identity fraud study, victims increased 8% to 16.7 million US consumers in 2017; this is a record since Javelin Strategy & Research began tracking data in 2003; as chips in cards have become more prevalent, fraud has continued to move online; the research highlighted the increase in intermediary accounts being created by fraudsters which could include PayPal and Amazon accounts; article shares further data on trends in identity fraud. Source
OCR Labs Global claims it is the first company to independently verify that its identification verification software has been certified bias-free.
A new TransUnion study has found that online fraudulent activity has increased 11% since the beginning of March; the report...