Trends in Fraud
Fraud? Oh noâ€¦couldnâ€™t happen to me!
Is that how you or your organization approaches potential fraud? Wellâ€¦if so, it might be time to take a closer look.
In our recent Fraud Report, 66% of organizations reported suspected fraud attempts in the past 12 months â€“ 35% of respondents stated an increase in these attempts. Today, there seems to be a perfect storm for potential fraud â€“ and, it is up to you to put the right processes and systems in place to prevent it. As more and more organizations expand their online business and more and more users share their information both on and offline, it is practically easier than ever for fraudsters to get hold of sensitive information.
How do they use that information? As our Fraud Report discovered, 78% of suspected fraud attempts occur in website applications. The fraudster steals your personal information and then targets businesses operating in a customer-not-present environment (mainly online or in a call-center). After all, as the fraudster believesâ€¦how does the organization REALLY know that they arenâ€™t who they say they are?
IDology recently released an infographic detailing some important trends in fraud as the first step in fraud prevention is always awareness. Remember, you and your organization do not have to be a victim of fraud. Partnering with a solution-driven identity verification and fraud prevention organization that is flexible and innovative enough to adapt as fraud tactics evolve is an essential step in your process.