Identity Fraud in Payments & Fintech: Speed and Scale
In payments & fintech, speed is the advantage, and fraudsters are matching it, mostly through the point of payment.
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. Read how instant payments, loans and wallets are being targeted, and where identity fraud hits revenue hardest.
Download the report to see how to keep real-time payments trusted without slowing them down.
Download Identity Fraud in Payments & Fintech
This report is for you if you...
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Work in fraud, risk or ops in payments, cards, lending, wallets or fintech
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Need numbers on identity fraud in instant payments, loans and e-wallets
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Want to cut real-time fraud without slowing payments or hurting UX
What's inside the insurance report
✔ Fraud trends: Attempts up, successes up, with attacks clustering at the transaction stage.
✔ Key fraud tactics: Account takeover, ID forgery and social engineering, plus eID attacks using impersonation and synthetic IDs.
✔ Business impact: 16.3% of annual revenue loss, with fraudulent transactions and customers leading the damage.
✔ Preparedness: 84% understand tactics, 85% address attempts and 73% use AI. 69% say regulation slows response.
✔ Strategic recommendations: Stop ATO, detect forged IDs, block social-engineering loops and optimise eID usage while evidencing every high-risk step.
A Glimpse at Payments & Fintech Numbers
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companies saw more identity-fraud attempts
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annual revenue loss driven by identity fraud
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say fraud is most likely at the transaction stage
Explore Other Industries
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Banks see 70% more attempts and 64% more successful attacks, with identity fraud hitting 21%+ of revenue as risk shifts from KYC to logins and payments.
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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.