The impact of identity fraud varies for organizations in the financial services industry, based on whether they belong to the banking or FinTech sector, according to Regula. Specifically, every fourth bank reported experiencing over 100 identity fraud incidents in the past year (26% of organizations), while this number is lower (17%) for the FinTech sector. Economic damage When asked to evaluate the cost of the identity fraud they had experienced, the banking sector was found … More
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