- The report states that the average business loses $ 7 million annually to identity fraud
- The largest companies with more than 100,000 workers could lose more than $ 50 million
- Identity verification solutions not only minimize this, but also help improve the impact of the brand
Organizations with more than 150 workers are losing an average of $ 7 million annually due to identity fraud, a new Docusign investigation has revealed.
In addition, companies with more than 5,000 employees report an average of $ 13 million in such losses, with one in five companies with more than 10,000 workers who lose more than $ 50 million directly and indirectly due to costs related to identity fraud.
The trend does not show signs of showing, either, with more than two thirds (69%) agree that fraud attempts have increased, pointing out the role of AI in the frequency and sophistication of this type of attack.
Digital fraud is on the top
Despite the evolution of fraud, we have not seen many changes in decades when it comes to username and password fraud, which represents half (51%) of all cases. Interestingly, only one in five (21%) reported attempts against the detection of facial biometric life, which suggests greater effectiveness.
As such, three quarters (74%) plan to increase investment in identity verification solutions. Those who have already informed an average of $ 8 million in savings.
Perhaps in an attempt to show how valuable its Esign software can be, Docusign suggests that identity verification investors have 2.2x more likely to achieve savings, 1.7 times more likely to significantly reduce identity fraud, 2.7X more likely to see a competitive and 1.6X advantage more likely to inform a positive impact on the brand, all good metrics for what can be a expensive excursion To start.
“As identity fraud intensifies, companies are increasingly pressured to achieve adequate balance between the safety and experiences of users without problems,” said Docusign Group vice president Group of the Mangesh Bhandarkar product.
Rapid biometric verifications, device recognition and DEPFAKE detection with AI motor help provide a more perfect user experience while maintaining optimal security.
“By implementing intelligent and low friction measures … Companies can create the appropriate balance between creating confidence, protecting customers and boosting long -term participation in an increasingly digital world,” Bhandarkar concluded.
