As identity fraud can have serious consequences on all areas of users’ lives, Claudius van der Meulen, SVP Entersekt Europe shares some ideas on how to overcome it.
Identity fraud is currently higher than ever, recent figures from fraud prevention organization Cifas revealed. In 2017, the organization recorded more than 300 000 cases of identity fraud in the UK alone. It is this worrying increase that formed the basis for the requirement in the revised payment services directive (PSD2) for strong consumer or two-factor authentication. Safety has now become the number one priority for many financial organizations, and if it isn’t, it should be.
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