Less sophisticated fraud — in which doctored identity documents are readily spotted — has jumped 37% in 2022, according to Onfido. Fraudsters can scale these attacks on an organization’s systems around the clock. It is estimated that the current global financial cost of fraud is $5.38 trillion (£4.37 trillion), which is 6.4% of the world’s GDP. With most fraud now happening online (80% of reported fraud is cyber-enabled), Onfido’s Identity Fraud Report uncovers patterns of … More
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