Identity Fraud Cost Nearly Half a Million US Dollars to Every Third Bank Last Year, Says Regula Global Survey
A global survey conducted by Regula from December 2022–January 2023 has revealed that the impact of identity fraud varies for organizations in the Financial Services industry.
- A global survey conducted by Regula from December 2022–January 2023 has revealed that the impact of identity fraud varies for organizations in the Financial Services industry.
- The results indicate a significant gap in the cost of identity fraud between Banking and FinTech organizations around the world.
- In fact, for 31% of banking organizations, the cost of such incidents was nearly half a million dollars, at $479,000 and more.
- On the other hand, the same indicator of the median cost of fraud for FinTech organizations was considerably lower, at around $120,000.