LibraryblogWe’ve published our Fraud Report 2020

We’ve published our Fraud Report 2020

Our Fraud Report 2020 is live! Make sure to download it today!

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Patrick Johnson
December 15, 2020
Blog Post
Fraud Prevention

Today, Veriff published our Fraud Report 2020, sharing our findings and observations of the world of online identity fraud during a year like no other. Download the report, totally free, today.

A big thank you

We wanted to first say a massive thank you to our amazing Fraud team within Veriff. They’ve made an incredible contribution to all of the fraud reports we’ve published in recent months, and their collaboration has made it possible to bring you all of the data, insights, and first-hand stories we’ve experienced throughout 2020.

If you’re interested in our earlier reports covering the Crypto, Fintech, and Mobility industries, they’re all still available to download from the Reports section in our blog.

An year no-one was predicting

Of course, 2020 has been a turbulent year for everyone in the world, and online fraud has seen unsurprising growth during this unstable time. As more businesses have moved online, this has raised demand for online identity verification platforms, like Veriff, but equally given fraudsters greater opportunities to find a way to steal from honest people via digital platforms.

As a result, we’ve completed millions of verifications this year, and been able to watch as fraudsters modified their approach to different business sectors, and utilised new technologies in attempts to deceive businesses and customers alike. Luckily, with Veriff in place to step in and stop them, we’ve saved companies a lot of headaches, and potential loss of revenue.

Rising fraud across the board

Our fraud report predominantly looks at fraud within three of the major industries we serve, Crypto, Fintech, and Mobility. And in all industries, fraud has been rising in 2020. Interestingly, while Fintech was hit harder during the spring, Mobility was affected later in the year during the second wave of lockdowns across Europe. And Crypto was fairly consistent throughout the year, as it is often the worst-hit industry we support, promising greater rewards for success if you’re a fraudster.

If you’d like to get more into detail about each industry, then download the report to read further.

In the future

After the success of our earlier three reports, we’ll be publishing additional fraud updates from next year onwards, along with two yearly larger reports - one at the 6 month mark, and one wrapping up the year.

And one final time - make sure to download the report today!

Happy Holidays, and Happy Veriffing!