Prepare for a Shifting Identity Fraud Landscape: 3 Takeaways from the Aite Fraud Trends 2022 Report
Blog post from Socure
Aite-Novarica Group’s 2022 fraud trends report identifies sustained growth in application fraud and account takeover attacks, alongside emerging tactics such as PII tumbling driven by an expanding group of less technically sophisticated “citizen fraudsters” attracted by fraud opportunities during and after the pandemic. The report emphasizes that financial institutions must improve identity verification, authentication, onboarding efficiency, and the orchestration of increasingly diverse fraud signals while balancing security with customer experience. Socure positions its machine-learning-based identity fraud products and consortium data network as tools for detecting stolen, synthetic, and fraudulent identities, reducing false positives, and adapting models to evolving attack patterns through shared client feedback.
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