March is fraud awareness month, and we want to arm our readers with important statistics, and how IDScan.net can help you stop fraud!
88.3% of identity fraud is committed using a fake ID. This number is alarmingly high especially when you consider that over the past six years, fraudsters have stolen $112 billion. This comes down to $35,600 stolen per minute. (AmericanBanker.com)
$2.40 is the amount every dollar of fraud cost merchants in 2016, this is up from $2.23 in 2015. (LexisNexis)
Fraud’s percentage of revenues rose from 1.32 percent to 1.47% in 2016. This revenue is extremely high for retailers and continues to be a growing issue for the retail industry. (LexisNexis)
These statistics are unnerving to say the least. But, there is a way IDScan.net can help you fight fraud! Retailers can see a considerable decrease in fraud by utilizing a “multi-layered” approach. This includes solutions which tier identity verification and identity authentication. IDScan.net provides complete solutions-both hardware and software that help users fight fraud and ensure that an ID is properly verified, validated and authenticated.
Ways IDScan.net Can Help you Fight Fraud:
- ID Verification: IDScan.net provides solutions that ensure that the ID is a valid, government issued ID with correct formatting of barcode features, ID number, etc.
- ID Validation: IDScan.net has the ability to perform higher level vetting to validate the identity of the individual. This includes running the ID against government databases such as OFAC and many others.
- ID Authentication: IDScan.net provides users the ability to authenticate an ID for proper security features, UV, etc. to ensure the ID is not a fake
To learn more about our offerings, visit us at www.idscan.net or call us at 888-430-8936!