The Importance of Trusted User Identity Verification to Counter Fraud in the Financial Sector #infographic

The Importance of Trusted User Identity Verification to Counter Fraud in the Financial Sector #infographic

A financial services company's ability to manage its customers' properties and personal data is embedded in his integrity. To ensure that they use the necessary security measures to secure highly sensitive and confidential data, they must be compliant with business trends, regulatory enforcement and technical innovation.

However, criminals are becoming more creative in developing strategies that allow illegal activity to infiltrate networks. By 2020, a financial institution's gross annual investment was greater than $18 million. In addition, 8 out of 10 US people fear businesses may not be able to protect their confidential information.

Onventional approaches to identity verification are unsuccessful in hampering fraudulent identity risks and banks need to develop their strategies for risk reduction.

It is not possible to stress sufficiently the importance of enhanced user identity verification in the financial sector, and implementing an effective identity verification solution would help protect financial firms and their clients from fraud and cybercrime.


The Importance of Trusted User Identity Verification to Counter Fraud in the Financial Sector #infographic

infographic by: www.ipsidy.com

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