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Global new account fraud rates fell by 23 percent in 2020, in UK climbed 28 percent Wednesday 16 December 2020 07:08 CET | News
A Jumio research has found that while global new account fraud rates fell by 23% in 2020, but fraud rates in the UK climbed 28%.
Jumio’s 2020 Holiday Fraud Report also found that the catch rate for selfie fraud was almost five times greater than for ID fraud, highlighting the growing importance of capturing a selfie during onboarding to deter new account fraud
At the same time, selfie-based fraud rates were nearly five times higher than ID-based fraud. This illustrates the growing number of stolen ID documents available on the dark web for purchase and, more importantly, the growing need to determine if an ID is authentic and belongs to the user.
4 months ago
Jumio’s 2020 Holiday Fraud Report also found that the catch rate for selfie fraud was almost five times greater than for ID fraud, highlighting the growing importance of capturing a selfie during onboarding to deter new account fraud
LONDON–(BUSINESS WIRE)–New data from Jumio, the leading provider of AI-powered end-to-end identity verification and eKYC solutions, reveals that new account fraud based on ID verification increased 28% in the UK YOY for 2020, while the global average fell 23% compared to 2019 levels. At the same time, selfie-based fraud rates were nearly five times higher than ID-based fraud. This illustrates the growing number of stolen ID documents available on the dark web for purchase and, more importantly, the growing need to determine if an ID is authentic and belongs to the user.
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Jumio s 2020 Holiday Fraud Report also found that the catch rate for selfie fraud was almost five times greater than for ID fraud, highlighting the growing importance of capturing a selfie during onboarding to deter new account fraud
New data from Jumio, the leading provider of AI-powered end-to-end identity verification and eKYC solutions, reveals that new account fraud based on ID verification increased 28% in the UK YOY for 2020, while the global average fell 23% compared to 2019 levels. At the same time, selfie-based fraud rates were nearly five times higher than ID-based fraud. This illustrates the growing number of stolen ID documents available on the dark web for purchase and, more importantly, the growing need to determine if an ID is authentic and belongs to the user.