A new Jumio report says that new account fraud has more than doubled since 2014, despite a seasonal decrease during 2019 Black Friday/Cyber Monday weekend.
In the third edition of Jumio’s Holiday New Account Fraud Report, fraud is defined as an attempt by an individual to create a new online account by manipulating a government-issued ID. The company compared global ID fraud patterns from millions of ID verification transactions between 2014 and 2019 across various industries, focusing on the period between Black Friday and Cyber Monday, including Thanksgiving and the Tuesday after Cyber Monday. Jumio also analyzed new account fraud levels across regions, countries, industries and time period.