Survey: 66 Percent of Companies Report Suspected Fraud Attempts in Past Year (July 29, 2013)
July 29, 2013
Two-thirds of companies in a variety of sectors reported suspected fraud attempts in the last 12 months, according to a report by IDology Inc., an Atlanta-based identity-verification company. More than one-third of respondents reported that these suspected attempts have increased in the last year, according to the survey’s findings, while 50 percent said the amount of attempts stayed the same.
“This survey brings to light the fact that fraudsters get trickier every day and, accordingly, organizations find this to be a major challenge,” according to the report. “It is not enough to rely on old technologies to protect a business, nor is it smart to neglect any area that puts a company at risk.”
The survey for the IDology 2013 Fraud Report, distributed by a third-party research organization, polled senior executives from IDology’s customer base of financial service providers, as well as companies in the fields of health care, retail, telecommunications and utilities, among others.
Credit, debit and/or prepaid card fraud is the most prevalent type receiving 57 percent of responses, with “account takeover” ranked second at 35 percent. Although the majority of organizations reported that credit, debit and prepaid card fraud is the most prevalent within their industry, many businesses (51 percent) believe they are the most prepared to prevent this type of suspected fraud, followed by money laundering at 37 percent.