GBG and InnoValor partner to tackle COVID digital fraud surge
5th February 2021
GBG is working with with Near-Field Communication (NFC) technology provider InnoValor, to implement its ReadID technology into GBG’s identity verification and fraud prevention tools.
According to a recent PWC report highlighting the severity of the rise in fraud during the pandemic, nearly half of those surveyed (47%) said they’ve encountered fraud in the last two years. GBG’s own research also found that in 2020 alone, 1 in 5 consumers had been victims of identity fraud, a figure which is only set to rise as our reliance on the digital economy and digital-led businesses continues to grow. The company’s State of Digital Identity Report found that 59% of people opened some kind of new online account in 2020, ultimately leaving consumers more exposed than ever. Companies need to ensure they have the best data, technology, and people in place to protect users, prevent fraud, and verify accounts.