Reports & Whitepapers: Landscape

Identity Fraud Report 2020

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Page 11 of 43

12 | Financial and Professional Services have been the hardest hit Financial Services have been most impacted by identity fraud this year, followed closely by Professional Services. The correlation isn't surprising; industries that fall under Professional Services, like Legal and Investment, are in close proximity to the financial ecosystem. When fraud increases for one, we can expect to see it rise for the other. Financial services are always at high risk of identity fraud, but suspicious behavior is harder to spot now – spending habits have changed dramatically, even among legitimate users. With so much volatility in the market, businesses across all industries need to be extra-vigilant. Trends Financial Services Number of reports Travel Healthcare Retail Telecommunications Gaming & Gambling Government 20,000,000 30,000,000 10,000,000 0 Professional Services Suspected fraud rate by verticals 12 |

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