It isn’t just shoplifting or machete attacks, the UK is also seeing a huge rise in fraud attempts since Covid, partly fuelled by the mandatory switch to online services, rather than in-person transactions. Both public and private sector have embraced automated bill payments, virtual meetings, document signing and customer dashboard controlled portals. It’s all good, unless fraudsters work out how to impersonate others, or rogue staff decide to set up fake companies to settle invoices/transfer funds in their favour.
Here’s the word from the IFB on a valuable tool for insurance brands in the fight against fraud.