Stemming the Tide on The New Era of Fraud

UK financial institutions are grappling with a surge in increasingly sophisticated fraud schemes targeting banks, building societies, credit unions, and smaller financial entities. UK Finance reports that over £710 million in unauthorised fraudulent transactions were prevented in the first half of 2024, highlighting the escalating complexity of financial crime. One of the most challenging threats is Synthetic Identity Fraud (SIF), where fraudsters combine real data—such as National Insurance numbers or birthdates—with fabricated information like fake names or addresses. This hybrid approach makes detection difficult for traditional security systems. As digital banking and online services expand, fraudsters are exploiting these vulnerabilities with growing expertise.

Download this white paper and learn about:

• Key Technologies for Fraud Mitigation: Explore essential tools like geocoding, name-to-address matching, address verification, and contact data quality.
• Enhancing Identity Verification: Discover how to strengthen Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance.
• Reducing Fraud Risk: Learn how integrated solutions can close security gaps in an increasingly hostile environment.