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2021 Global Identity and Fraud Report
Protecting and enabling customer engagements in the new digital era
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The surge in digital demand over the past year reinforced the deep connection between recognition, fraud prevention and the online customer experience. As businesses transformed their operations to accommodate the rapidly growing volume of digital transactions, consumer expectations for easy, secure interactions increased at an even faster pace. And that meant less tolerance for the interruptions caused by security and risk controls.
Our 2021 Global Identity and Fraud Report highlights these shifts and more, drawing on three waves of data collected throughout the pandemic. The business and consumer surveys took place in waves from June 2020 to January 2021 across 10 countries spanning North America, Latin America, Europe,
and Asia-Pacific. The breadth of data reveals notable changes in consumer and business behaviour and priorities as each navigated the crisis.
One of the many heartening discoveries included the fact that eight in ten businesses said that they now have a customer recognition strategy in place, up 26% since the start of the pandemic. Many companies also developed digital strategies as they strove to improve their online experience and provide security and fraud prevention measures when customers needed it most.
When it comes to fraud prevention, companies are continuing to invest in securing online experiences. This is an encouraging trend, especially given that we anticipate fraud attacks will increase significantly in the near-term. Dive into this year’s report for insights and detail into:
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Business priorities for 2021 and the current disconnect between the
support companies say they provide and what consumers report
Why the digital experience remains siloed from security and fraud prevention
Changes in consumer preferences regarding security methods and the right approach going forward
The normalisation of pandemic-era digital act
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