Veriff, the leading global identity verification provider, has just released its annual Identity
Fraud Report, shedding light on the latest trends and statistics in online identity fraud.

Identity fraud continues to be a significant concern for businesses and individuals alike. In an increasingly
digital world, where more transactions and interactions take place in cyberspace, the risk of identity theft and
impersonation has grown substantially. Veriff’s Identity Fraud Report aims to provide insights into the
challenges faced, the impact on industries, and the advancements in fraud detection and prevention.

Key Findings

The report reveals several key findings:

• In the past year, identity fraud cases grew by 17% globally, reaching a staggering
  3.2 million instances.
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• Financial services remain the most targeted industry, accounting for 42% of all reported
  identity fraud cases.
• Several regions experienced surges in identity fraud, with Asia reporting the highest
  growth rate at 23%.
• Mobile identity fraud has seen a dramatic increase, with 67% of all fraudulent activities
  occurring on mobile devices.

Combating Identity Fraud

The fight against identity fraud requires innovative and robust solutions. Veriff has been at the forefront of
developing cutting-edge identity verification technology that enables businesses to seamlessly authenticate
users and detect fraudulent activities. By leveraging artificial intelligence and machine learning algorithms,
Veriff’s platform provides industry-leading accuracy and efficiency.

Moreover, Veriff’s Identity Fraud Report emphasizes the importance of collaboration among businesses, regulatory
authorities, and technology providers. Sharing insights and best practices can help counter the ever-evolving
techniques employed by fraudsters. It is crucial for organizations to stay informed and implement the necessary
safeguards to protect their customers’ identities and maintain trust.