Unauthorized account openings increased by 21% in the last 12 months
Fifty-eight million consumers had a new account opened without their authorization in the last 12 months, a 21% increase compared to 2020, yet less than half of Americans know …
Biometrics emerging as the preferred identity verification option for digital consumers
Onfido announced the results of a global study with Okta which revealed that businesses have just 10 minutes to set up digital accounts or risk losing consumer trust. The …
Fraud detection and prevention market size to reach $62.7 billion by 2028
The global fraud detection and prevention market size is expected to reach $62.7 billion by 2028, registering a CAGR of 15.4%, according to ResearchAndMarkets. Rise in …
Fraud never sleeps: Why biometrics is essential for effective fraud prevention
When the pandemic forced organizations to send customer service agents to work from home, fraudsters quickly seized the new opportunity presented by isolated employees. Social …
Everyday cybersecurity practices inadequate among many online consumers
Bitdefender released a report which reveals how consumers across various age groups and socio-demographic backgrounds behave on popular platforms, applications and devices, …
Fraudulent robocalls to cost consumers $40 billion in 2022
Consumers will lose $40 billion to fraudulent robocalls globally in 2022; rising from $31 billion in 2021, a Juniper Research study reveals. Fraudulent robocalls pose threats …
ATO attacks increased 307% between 2019 and 2021
Sift released a report which details the evolving methods fraudsters employ to launch account takeover (ATO) attacks against consumers and businesses. The report details a …
Five proven techniques for building effective fraud management
Effective management of fraud has long been a vital capability within organizations, and for good reasons. According to the Association of Certified Fraud Examiners’ …
CNP transaction fraud costing merchants millions in revenue, fraudsters getting more sophisticated
Vesta released a report which includes an analysis of millions of digital transactions from the first quarter of 2020 through the first quarter of 2021 to track how CNP fraud …
Consumers taking action to protect themselves online, though confidence is low
68% of consumers claim to be doing more to protect themselves from online fraud and identity theft than a year ago, according to a Trulioo research. The research found 76% of …
3-D Secure transactions growth fueled by card-not-present explosion and PSD2
A massive $100 billion in transactions in 2021 alone have been protected by 3-D Secure payments authentication technology, Outseer reveals. The report also reveals continued …
Bot attack volumes growing 41% year over year, human-initiated attacks down 29%
Bot attack volumes grew 41% year over year with human-initiated attacks falling 29%, according to a report from LexisNexis Risk Solutions. The report confirms earlier trend …