Staying ahead in the identity fraud race

When running a business in today’s market, tackling identity fraud can be one of the most intricate and expensive tasks involved. This, combined with the detrimental effects that failing to meet regulations can bring both financially and in terms of reputation, gives fraud management an unenviable seat in the boardroom – often misunderstood and undervalued, until it’s too late.

Fraud itself is nothing new, however the fraud and identity theft industry is currently undergoing a resurgence. While our increasing reliance on digital services and products has generated endless advantages across professional and personal lives, especially in recent months, it has also expanded new opportunities for fraudsters. Individuals are logging onto online services and applications from remote locations across the globe, extending the potential exposure for digital identities to be accessed. No longer is identity theft simply a hobby for hackers – evidenced by the fact that the fraud sector is now worth trillions.

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