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Increasing Exposure to ID Fraud Increases Financial Risk for All Parties

“P2P and mobile channels make up the ideal breeding ground for fraud."

Fraud becoming an issue for P2P (Image: Shutterstock).

With over 29.4 million transactions in 2018’s second quarter alone, up 24.1% from 2017, P2P is at particular fraud risk, according to identify and authentication firm Dallas-based GIACT Systems’ infographic.

With the amount of personally identifiable information available, fraudulent actors are migrating to popular, expedient payment channels. “Growing Exposure to Identity Fraud Increases Financial Risk for Every Business and its Customers,” highlighted identity fraud trends affecting peer-to-peer mobile payment channels.

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Roy Urrico

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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