Socure reports on First-Party Fraud trends, announces new product and consortium

Identity verification provider Socure released a report that examines trends in first-party fraud (FPF). They also announced their First-Party Fraud Consortium in tandem with its new identification product Sigma First-Party Fraud.

Trends in first-party fraud as rise is imminent

According to the Federal Trade Commission’s 2022 Consumer Sentinel Network Data Book, consumers lost $2.7 billion to imposter scams last year. US Senators along with the Consumer Financial Protection Bureau have been pushing to shift payment scam losses from consumers …

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