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
American Banker takes a look at the new blockchain-based system for identity verification from Spring Labs; while 16 online lenders...
Penny Crosman writes in American Banker about the rise in identity fraud in the past year; citing a Javelin Strategy...
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.
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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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.
A new TransUnion study has found that online fraudulent activity has increased 11% since the beginning of March; the report...
OCR Labs Global claims it is the first company to independently verify that its identification verification software has been certified bias-free.
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