Identity Fraud in Banking: More Attacks, More Wins Beyond KYC
In banking, identity fraud is sharpening fast, with attacks getting through beyond traditional KYC.
This report is one of five industry deep-dives from The Battle in the Dark, Signicat’s study based on insights from 900 fraud and risk experts across Europe. Access banking-specific fraud metrics on where attacks now concentrate and which tactics drain the most value.
Download the banking identity fraud report to see how to cut losses without killing conversion.
Download Identity Fraud in Banking
This report is for you if you...
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Work in fraud, risk, KYC or compliance at a retail, commercial or digital bank
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Need hard numbers on identity fraud across onboarding, login and payments
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Want to cut fraud losses without killing digital conversion
What's inside the banking report
✔ Fraud trends: Attempts up 70%, with more attacks getting through beyond KYC.
✔ Key fraud tactics: ID forgery, loan fraud, social engineering, wallet fraud and credential stuffing, plus growing eID abuse.
✔ Business impact: Identity fraud hits around 21% of revenue, with many risky transactions and new customers.
✔ Preparedness: High confidence and AI use, but patchy measurement of real impact.
✔ Strategic recommendations: Detect risk earlier, raise document trust, and defend the eID channel end-to-end.
A Glimpse at Banking Numbers
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banks saw more identity-fraud attempts
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average revenue impact from identity fraud
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identity-fraud attempts target eID rails
Explore Other Industries
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Gaming reports 59% more attempts and 60% more successful attacks, with identity fraud impacting 28.6% of revenue and 48% of cases targeting eID technologies.
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Insurers face rising attempts (52%) and successes (59%), and identity fraud now affects 28% of revenue across applications, logins and claims.
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Attempts are up 54% and successes 59%, with identity fraud affecting 17% of revenue and peaking at the transaction stage across rentals, leases and delivery.
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67% of firms report more attempts and 54% more successes, with identity fraud impacting 16% of revenue and half of attacks clustering at the transaction stage.