Sumsub Identity Fraud Report 2024

Free Report

Democratization of identity fraud

In 2024, identity fraud is more accessible than ever, drawing in a growing number of individuals worldwide. With each incident, the stakes rise, raising urgent questions about digital security and trust.

How easy is it to commit fraud now? Are we dealing with highly skilled hackers, or could it be someone as familiar as your neighbor? What fuels this surge, and how can we protect ourselves?

Prepare to unveil the findings in our latest report.

The main data sources for the report

• fraud attempts analyzed

• fraud and risk professionals surveyed

• end-users surveyed

Explore key findings about identity fraud in 2024

Dive into comprehensive research on identity fraud trends, coupled with expert strategies to combat fraud in 2024 and beyond.

What is the overall fraud rate?

The overall identity fraud rate worldwide was 2.5% of all verifications. The fraud statistics by industry reveal that the top five sectors with the highest fraud percentages are dating, online media, banking & insurance, video gaming, and crypto.

Has fraud increased in recent years?

In the past three years, new technologies have significantly evolved, influencing fraud statistics and rates by year. Identity fraud has sharply risen in recent years: in 2021, the global fraud rate was 1.10%, surging to 2.50% in 2024.

What is the main fraud trend in 2024?

In 2024, one of the main identity fraud trends is AI-driven attacks, particularly deepfakes that become our everyday reality. These involve using AI to manipulate audio and video, creating convincing yet entirely fabricated content. As AI technology advances, deepfake-based fraud is expected to become more widespread and harder to detect.

What are the statistics of identity security?

Statistics on identity security indicate a concerning trend: the global fraud rate increased from 1.10% in 2021 to 2.50% in 2024. This sharp rise emphasizes the growing prevalence of identity fraud and highlights the urgent need for improved security measures to protect personal information.

How likely is identity fraud?

Identity fraud is fairly common and increasing with the rise of digital transactions and data breaches. Factors like weak online security, phishing scams, the availability of personal information on the dark web, and the development of technologies contribute to its likelihood.