According to Merchant Savvy, global losses from fraud have tripled to USD 32.39 billion in 2020 from USD 9.84 billion in 2011.
Shufti Pro identified various types of identity frauds in 2020 and as per the available information, businesses can expect an increase in criminal activities this year as well.
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Fraud has evolved alongside digital identity, from stolen credentials and account takeover to synthetic identities, deepfakes and AI-generated documents. Identity…
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