Report spotlights global and industry trends drawn from millions of transactions
Global Identity Fraud Report
What’s in this report from AU10TIX:
Drawing insights from millions of transactions processed in 249 countries from April to June 2023, this report identifies emerging regional and industry-specific patterns of ID fraud. Most notably, the AU10TIX analysis determined there has been a 44% increase in organized ID fraud in North America compared to preceding quarters. This upsurge is believed to be driven by the ongoing economic recovery and inflationary pressures, particularly in the U.S. market, which are emboldening professional ID fraud syndicates.
Among the sectors scrutinized, cryptocurrency and trading are the most highly targeted, responsible for 47% of attacks in Q2. These industries attract professional fraudsters due to their perceived high-profit prospects and inherent anonymity. The second most targeted industry is payments with 32%, followed by commerce with 12%. Banking accounts for only 2% of attacks. This divergence is likely attributable to the assumption that financial institutions invest more significantly in robust protective measures than retailers and payment providers do.
“By identifying the geographical regions and industry sectors that are experiencing the most acute attack rates, we are alerting businesses in those areas to take additional steps to protect their customers,” said Dan Yerushalmi, CEO of AU10TIX. “This data reveals which markets fraudsters consider the most vulnerable with the most potentially lucrative return.”