Refinitiv’s recently published op-ed in Infosecurity Magazine, “Identity Theft Will Get Worse,” details the outlook for identity fraud in 2022. If the rate and effectiveness of identity-based fraud in 2020 and 2021 are any indicator, that outlook is not good. 

Here is an excerpt from the article: 
“According to a 2021 survey, 86% of respondents say data privacy is a growing concern, and 40% don’t trust companies with their data. For any executive concerned about safeguarding their company’s reputation, these numbers should be a wake-up call… Unfortunately, many organizations continue to fall behind fraud’s advancements despite current efforts.” James Mirfin, Global Head of Digital Identity & Fraud Solutions at Refinitiv

One of the most important steps in fighting fraud is maintaining accurate customer information. Thankfully, you can optimize your identification processes today using the most current, comprehensive, accurate data available. With GIACT (a Refinitiv company), organizations can confirm the true identity of customers and businesses in real-time using multiple data sources, including traditional and non-traditional data. 

GIACT can help with customer profile clean-ups, remediation exercises and periodic reviews through one-time batches and persistent monitoring services. Reach out now to find out how we can help make an immediate improvement to your risk profile. 

Source:  Refinitiv