2020 Holiday Fraud Report
What's Inside?
- The impact of COVID-19 on fraud patterns.
- Comparison of fraud trends by countries, industries, types of photo IDs and integration channels.
- Key takeaways to help businesses streamline their onboarding processes for legitimate customers while keeping fraud at bay.
Every year, the Jumio Holiday Fraud Report examines the attempts consumers make to fraudulently open new accounts with Jumio customers. The analysis considers a variety of industries and geographies around the globe as well as the different implementation channels.
This year, the report looked at both ID-based fraud and selfie fraud where the user attempted to use a picture or video instead of a genuine selfie to corroborate their digital identity. Selfie-based fraud rates were five times higher than ID-based fraud. This illustrates the growing number of stolen ID documents available on the dark web for purchase and, more importantly, the growing need to determine if an ID is authentic and belongs to the user creating a new account online.
Despite the reported rise in fraud during the COVID-19 pandemic of 2020, Jumio customers actually saw a 23% decrease in fraud in 2020. But that’s not the whole story. With data from this report, you will get a clear picture of the very real risks of identity fraud and begin to uncover strategies to protect your online ecosystem.
Complete the form on this page for immediate access to the 2020 Holiday Fraud Report.