2014 Fraud Report Trends (Infographic)

With fraudsters using more and more sophisticated methods every day, what steps do organizations need to take in order to stay ahead? According to our 2014 Fraud report, the rise in the amount of suspected fraud from 2013 to 2014 was significant, with 87 percent of survey respondents reporting they had experienced suspected fraud over the last 12 months, up from two-thirds in 2013. Understanding fraud targets allows an organization to discover and respond to potential threats, ensuring that legitimate customers get in and fraud stays out. There are three major trends that were apparent in this year’s fraud report:

  1. Fraudsters continue to target web applications.
  2. Credit, debit, and prepaid card fraud remains a major concern.
  3. Small dollar fraud prevails.

By addressing any weaknesses and enhancing the capabilities of a fraud prevention program using dynamic identity verification methods, an organization can effectively detect fraud and prevent it from taking place. Now is the time to act in order to protect customers and ensure that transactions process smoothly. Identity verification and fraud prevention technology solutions are a great way to ensure compliance with regulations, increase customer acquisition, and drive revenue. Click the below image to download a copy of our 2014 Fraud Report Trends Infographic for more details!

IN THE NEWS

BALANCING SECURITY AND CONSUMER FRICTION IS THE NEW NUMBER ONE FRAUD CHALLENGE FOR BUSINESSES

By Christina Luttrell for PaymentsJournal

RESEARCH

WHAT’S DRIVING THE FINANCIAL SECTOR’S NEW PURSUIT OF MORE SOPHISTICATED IDENTITY VERIFICATION SOLUTIONS?

New Research Overview from IDology