Defining and Solving the Elusive Challenge of First-Party Fraud

New research from Socure reveals that first-party fraud costs U.S. financial institutions and merchants more than $100 billion a year. Moreover, more than one in three Americans (35%) admit to committing first-party fraud by using their own identity to commit a dishonest act for financial gain.

This report — the most comprehensive study of first-party fraud ever undertaken — combines two significant pieces of research: a survey of 1,000 U.S. consumers, and deep insights gleaned from hundreds of millions of financial transactions.

Highlights include:

• Trending first-party fraud behaviors across industries
• A look at regulatory shifts that may increase first-party fraud losses
• Insights around consumer sentiment and the limitations of current solutions
• A blueprint to curb losses and safeguard your organization