LAS VEGAS, Oct 24 (Bernama-BUSINESS WIRE) — Jumio, the leading provider of automated, end-to-end identity verification, risk assessment and compliance solutions, today unveiled at Money20/20 USA Jumio 360° Fraud Analytics, its new fraud-fighting technology that uses AI-driven predictive analytics to identify fraud patterns with more sophistication and accuracy than ever before.
According to Jumio’s analysis, 25% of fraud is interconnected — either perpetrated by fraud rings or by individuals using the same information or credentials to open new accounts on banking sites, ecommerce platforms, sharing economy sites and more. A single organized crime operation or fraud ring can cause damage into the hundreds of millions of dollars. And with rapidly evolving AI at their disposal, fraudsters are becoming more sophisticated than ever before, leaving businesses scrambling to stay ahead.