Infographic: The Changing Landscape of Identity Fraud

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The Changing Landscape of Identity Fraud

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After years of record-high fraud rates, 2018 saw the cost of fraud and the number of victims decrease for the first time in three years. According to Javelin Strategy & Research, the total amount of identity fraud in 2018 amounted to $14.7BB and impacted 14.4MM adults in the U.S. — more than 5% of the total population. While decreasing levels of fraud might bring some relief, GIACT found a more complicated picture: fraud is evolving and migrating; identity fraud has entered a new phase.

“With fraud migrating to new accounts and unconventional account targets, fraud mitigation tools that capture, validate and monitor customer identities will need to be applied to account types that might not have these capabilities in place today."

SVP, Research Director and Head of Fraud & Security, Javelin Strategy & Research