A recent report warns that identity fraud is rapidly evolving and presenting growing challenges for businesses. Findings from Signicat and Red Goat Cyber Security reveal that while many firms feel confident in their ability to combat these threats, this confidence may be dangerously misplaced.
Key Points
- 59% of businesses reported an increase in identity fraud attempts compared to last year.
- Despite rising attempts, 74% of companies remain confident in their fraud protection capabilities.
- 22% of annual revenue for firms is affected by identity fraud and prevention costs.
- 71% believe AI facilitates the majority of fraud against them.
- The costliest methods of fraud include account takeover and social engineering.
Why should I read this?
If you’re in business, you definitely want to digest this. The report highlights key flaws in confidence about security measures while revealing how identity fraud tactics are becoming more sophisticated. Don’t let misplaced confidence put your organisation at risk – get clued up on these findings and arm yourself against evolving threats.
