Over the past year the average identity document (ID) fraud rate has increased by 41 percent over the previous year and first-time fraudsters appear to be more prevalent. A new report from identity verification and authentication provider Onfido shows activity peaked in July and August. But with large parts of Europe encountering a 'second wave' and re-entering lockdown, coupled with the spike in online activity for the holiday shopping season, Onfido predicts fraud rates will start to climb again as the year closes. What's interesting is that the proportion of unsophisticated fraud grew 23 percent year-over-year, from 57 percent in… [Continue Reading]
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