Fraud is evolving faster than ever—and it’s being supercharged by AI. In 2025, account takeover (ATO) fraud has become more pervasive and sophisticated, driven by generative AI tools that enable fraudsters to convincingly mimic real users. These actors are no longer just exploiting weak passwords—they’re bypassing traditional authentication systems, hijacking identities with alarming ease, and
Fraud is evolving—so must your strategy Fraud is escalating rapidly, and fraud teams across industries are under increasing pressure to keep up. Veriff’s 2025 US Fraud Industry Pulse Survey captures the latest fraud trends, their impact on organizations, and the actions industry leaders are taking to combat them. We spoke to 200 fraud experts and decision-makers
1. What are identity fraud and identity theft? Identity fraud and identity theft pose severe consequences for individuals and organizations around the globe. According to the US Department of Justice, the two terms are “used to refer to all types of crime in which someone wrongfully obtains and uses another person’s personal data in some way
Introduction The rise of generative AI has reignited public interest in artificial intelligence, positioning the finance sector as a leader in AI adoption across industries. This is largely due to the widespread use of traditional AI, like machine learning (ML), which has been a staple in the sector since the late 2000s. Although generative AI is less prevalent
It often seems that convenience in the modern digital world is synonymous with surrendering your privacy. While technology has, in many aspects, revolutionized our lives, it has also left us vulnerable and exposed to unprecedented levels of surveillance. To combat this, more and more countries all over the world are working towards comprehensive data protection and
The techniques fraudsters use are becoming increasingly complex, with multiple means for criminals to take control of an account. The types of account takeover fraud chosen by the attacker will depend on their goal and the resources they have available. Don’t miss the chance to explore the latest trends and gain actionable insights essential for
Since the advent of money, bad actors have been using deception for financial gain. A serious economic crime, fraud causes devastating consequences for businesses and consumers, including financial, legal, and reputational harm. Common types of financial fraud include the theft of personal information, such as bank account details or a social security number; mortgage fraud,
As a result of customer demand, the Buy Now Pay Later (BNPL) companies are set to grow astronomically within the next few years. However, this attracts the attention of online fraudsters, endangering businesses and legitimate customers. Soft credit checks, or surface-level searches looking at a customer’s credit card worthiness, are not strong enough on their
Don’t miss the chance to explore the latest trends and gain actionable insights essential for combating fraud and protecting your business. Download our Identity Fraud Report 2024 today! – Fraud detection software refers to securing your business and its accounts. By using fraud detection software, you can lock out bad actors from your financial institutions, safeguard
In recent years, we have seen a serious increase in the number and severity of digital and online fraud instances. In the US alone, synthetic identity fraud is thought to be the fastest-growing financial crime. Statistics show that fraud is increasing significantly: P2P fraud saw a 733% increase from 2016 to 2019; account takeovers increased
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