From: RegTech Analyst
Fraud attempts jumped by 250% between March and June, according to a new report from identity verification company IDnow.
“In the past few months, our security system has seen a sharp increase in fraud attempts and numerous new methods against which we protect our customers,” said Armin Bauer, co-founder and managing director of technology at IDnow.
The increase was notably aligned with how more countries went into lockdown.
Cases of similarity fraud increased by 231% during this period. In the same time, fake-ID fraud rose by 180% and social engineering attacks by 75%.
