We’re pleased to publish the first edition of our identity fraud report, which explores the fraud trends we’ve seen over the past 24 months. We delve into the tactics fraudsters are using and how these are evolving. We also explain why using technology and a team of verification experts together provides the best defence against fraud.
Key takeaways from the report:
- It’s challenging to understand the exact figures and the true scale of fraud; businesses can only report on the fraud they know about
- Fraud is evolving; fraudsters are exploiting different tactics including deepfakes and tampered with documents
- The quality of fake IDs, especially those generated by AI, is now incredibly sophisticated and easily available – facilitating both the creation of fake documents and the tampering of genuine ones
- Automated technology and verification experts working together provides the best results at combating fraud
- Digital IDs also provide a strong defence against fraud
As more services move online and fraudsters experiment with different tactics, the importance of fraud detection and prevention has never been more important.