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The staggering cost of identity fraud for financial services
Help Net Security www.helpnetsecurity.com
The impact of identity fraud varies for organizations in the financial services industry, based on whether they belong to the banking or FinTech sector, according to Regula. Specifically, every fourth bank reported experiencing over 100 identity fraud incidents in the past year (26% of organizations), while this number is lower (17%) for the FinTech sector. Economic damage When asked to evaluate the cost of the identity fraud they had experienced, the banking sector was found … More
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bank banking banks cost economic financial financial industry financial services fintech fintech sector fraud identity identity protection impact incidents industry organizations regula report sector services