Jumio: Fake photos and IDs still top identity theft
25 October 2017 14:02 GMT

Identity solutions firm Jumio has found that fake photos and IDs still top identity theft efforts in its systems.

In 2017, Jumio found that almost one percent of all verification transactions across its global network were fraudulent, and of this total, 19.7 percent were from fake or doctored photos, while 19 percent were from altered ID numbers.

Jumio this week released the Trusted Identity as a Service platform in response to growing online threats, increased sophistication by fraudsters and high-profile cryptocurrency hacks.

It says the platform  has expanded functionality to make its machine learning-powered online identity verification service dramatically smarter, faster, and more scalable. 

"Higher levels of sophistication by fraudsters demands that businesses take a more sophisticated approach to fraud detection," said Stephen Stuut, President and Chief Executive Officer at Jumio. "Jumio is improving its identity verification solutions to better identify fraud and improve the accuracy, speed and scalability of our services."

Jumio processes almost 200,000 ID verifications daily and boasts the largest database of identity verifications, with more than 80 million total transactions processed.