Each year, we survey businesses across industries (including banking, fintech, lending, and insurance) to learn more about the fraud trends they experienced over the past 12 months and what they expect in the coming year.
This year’s results show mobile fraud attacks across industries are surging. Businesses reported that the prevalence of mobile device attacks increased by 117%. Caller ID spoofing, porting, and SMS interception were the top mobile-based fraud techniques. Firms also reported that using mobile devices for identity verification and ID document submission, as well as artificial intelligence and machine learning, would be leading trends in verification in the next 3-5 years.
Now in its sixth year, IDology’s Annual Fraud Report surveys companies across financial services, healthcare, insurance and eCommerce industries, with respondent titles including C-level executives, vice presidents, directors, managers and analysts in risk, fraud, compliance, product and operations departments. This infographic distills the major findings from the report: