RUSI Shares 9 Key Steps to Combat Large-Scale Identity Fraud

The report comes as the threat from identity fraud continues to grow and evolve, costing the UK economy an estimated £1.8b per annum.

Key recommendations for the financial industry include:

• Ensuring that counter-fraud measures within the digital verification services trust framework are kept fit for purpose through robust annual review;
• Working with government to establish government-endorsed sources of victim support; and
• Working with government to develop real-time government issued identity-checking solutions along with a data feed on false identities used to access public funds.

✅ Firms can review the report to better understand the developing nature of identity fraud and the ways in which the public and private sector can effectively respond.

💡 Plenitude’s Fraud Prevention Practice conducts comprehensive threat assessments, advising clients on preventative measures to ensure they stay secure in an evolving risk landscape. Visit our website for more information: https://www.plenitudeconsulting.com/services/fraud-prevention-services