IDology's 5th Annual Fraud Report
A new era of fraud is upon us, one where major shifts in the fraud landscape have had far-reaching effects across industries.
Now in its fifth year, IDology’s annual Fraud Report measures fraud trends across a variety of industries in order to better understand the identity and fraud landscape, detect emerging trends, and offer insight for businesses.
Findings From the Report:
• Two thirds of respondents reported that fraud attempts at their organizations have increased—a 58% increase over last year.
• First-party fraud had the most growth, increasing 96% in prevalence over last year.
• Companies felt they are least prepared to handle first-party fraud and synthetic identity fraud. For synthetic identity fraud, 58% of organizations said they were “extremely worried” or “very worried” about it.
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