The Federal Reserve announced the beginning of a new study to measure fraud and associated costs in the U.S. payments system.Read More
The number of identity fraud victims increased by eight percent (rising to 16.7 million U.S. consumers) in the last year, a record high since Javelin Strategy & Research began tracking identity fraud in 2003.Read More
Banks and payment service providers are being ordered to update their security systems in order to protect customers from the threat of identity fraud. It’s feared that new security roles that are coming into play imminently could open a gaping hole for fraudsters to take advantage of.
The 2015 Identity Fraud Study by Javelin Strategy & Research reveals that 2014 was a mixed year in the fight against identity fraud, with some advances and some setbacks. The study found that fraudsters stole $16 billion from 12.7 million U.S. consumers last year.