Two Thirds of Big Corporations Victims of Fraud
- Colum Lyons, CEO at ID-Pal
- 27.05.2022 05:30 pm #fraud #security
"The fact that two thirds of British companies have fallen victim to fraudsters in such a short period of time highlights the vital importance of robust customer identity verification for businesses. In a market that is almost entirely digitised, businesses must understand exactly who can access their data and know precisely where and how it is stored. This is particularly pertinent when many firms may not be aware of loopholes that allow some verification providers to transfer sensitive customer data to be checked outside the EU where less stringent regulations may be in place.
“Not all identity verification solutions ensure data processing is geo-locked to your region and secured so that only the business itself can access it. Fraudsters will explore every possible loophole – it’s the job of the modern business to think ahead and ensure their identity verification processes are as risk free as possible.”
