The Pandemic And Its Effect On Identity Fraud In North America

How Digital Fraud Varied Across Industries Affected By The Pandemic

Sign-ups and Anticipated Fraud Rose for The Internet Giants

Work from home was not supposed to be mainstream until at least 3–4 years from now. Covid-19 accelerated the transition drastically. The Result? A lot of additional business flew to the internet giants. But additional sign-ups, especially when these products were made open to consumers, come with the added risk of fraud, and that was rightly captured.

Travel Industry Will See Longstanding Effects

Travel Industry is probably one of the most affected and the chart below supports it. But why did Digital Identity gain 60% in February while OTP usage fell? We anticipate that these are cancellations. Since Digital Identity provides information across the entire customer lifecycle, customers use these products at various stages beyond registration. And one such area is when customers anticipate fraud amongst mass cancellations.

Ticketing Industry Is Struggling

The ticketing industry is a thriving business usually, and we work with them on a number of use cases including, but not limited to, verifying the identity of the consumers, ensuring minimization of black-marketing deals, and preventing account takeover.

Supply Chain Is Thriving And Is Adopting Advanced Fraud Analytics

Irrespective of where you buy items from, you need them delivered, right? Supply chain companies are truly thriving at this point. Not only are they seeing increased orders from their existing businesses, but more and more new businesses (mostly E-Commerce) are also signing up.

Gaming Witnessed A Lot of New Customers

What would you do when you’re locked inside? Read new books, binge shows, develop a new hobby — like playing games?

Fintech Is Thriving And Is Fast Adopting To Advanced Fraud Analytics

TeleSign has seen a lot of digital identity adoption lately. As with other industries, our digital identity products are able to detect potential fraud at various touchpoints across a customer lifecycle.

Product at TeleSign. Connect with me at linkedin.com/in/ayanhalder

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