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Fake ID and ATO fraud rising say US firms
June 28, 2024, 4:01 p.m. | Masha Borak
Biometric Update www.biometricupdate.com
Real estate transactions involve significant amounts of money. It's not surprising that 1 percent of transactions handled by title companies—third parties acting on behalf of lenders and buyers—involve a fake ID, according to Intellicheck. Similar percentages are also seen in physical banks, with customers presenting fake or expired IDs.
This is the reason that account takeovers are becoming the fastest-growing identity theft, Intellicheck’s CEO Bryan Lewis at a webinar hosted by data analytics company Pymnts.
The New York-based identity …
ato ato fraud banks biometrics biometrics news companies customers digital-identity estate expired fake fake id financial services fraud identity verification ids intellicheck money parties physical real real estate rising synthetic identity fraud third third parties transactions transunion
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