Sumsub

With just $1,000, a fraudster group can inflict losses of up to $2,500,000 within one month. Is there a way to stop it? Welcome Sumsub's 2024 Identity Fraud Report 🔗 https://lnkd.in/dBg-Xtz7   We analyzed 3,000,000+ fraud attempts and surveyed 200+ fraud and risk professionals and 1,000+ end-users to give you the most comprehensive report divided into two parts— offense and defense. • Explore identity fraud trends. • Find out about top identity fraud types and the least protected countries and industries. • Learn how to defend. And more. Stay ahead of the threat. Download the report now 🔗 https://lnkd.in/dBg-Xtz7 #fraudweek #identityfraud #fraudreport #Sumsub

WOO X + Sumsub = Seamless 6-Second Verification 🚀 WOO X, a global centralized crypto trading platform, revolutionizes the onboarding experience with Sumsub. With an average daily volume of $600 million, WOO X needed a provider to meet its high standards for compliance, security, and user experience—and Sumsub delivered! Chloe Tsai, Head of Legal at WOO X, shares: “Since integrating Sumsub, we have seen clear and positive results from day one. Most applicants are processed within seconds, and the pass rate exceeds 90%.” Looking ahead, Sumsub will continue to support WOO X’s goals of delivering a secure and compliant platform as it expands its user base and market share. Read more about it here: https://sumsub.link/aqv #Crypto #Compliance #FraudPrevention

We’re excited to announce that our team will participate in the Gaming Compliance Forum 2024 by ARQ Group on December 4! 🎲 In our session on Transaction Monitoring Tactics for Gambling, we’ll discuss the crucial aspects of compliance and transaction monitoring in the #gambling industry. Our speakers & delegates: Arina Rumyanceva – Corporate Legal Counsel & AML Compliance Expert Kris Galloway – Head of iGaming Product Osvaldo Sosa – iGaming Technical Presales Manager Lucienne Atkins Jones – Regional Sales Manager What to expect: An in-depth exploration of how customer lifecycle management and #compliance intersect. We’ll discuss why robust #AML and anti-fraud transaction monitoring is essential to success in the gambling industry. We can’t wait to share insights, tackle challenges, and connect with industry professionals. See you there! #GamingCompliance #RiskManagement #ARQEducate

Do fraudsters hate music? We're sure they don't. We even know the tracks most commonly played during different types of fraud attempts—after all, we prevent thousands of fraud attempts every day. Here's our 2024 Fraudster Wrap-Up! Excellent choices, fraudsters. #wrapup #fraud #fraudalert

The last month of the year is here; we know it’s one of the most loved by fraudsters. But regulations are not standing still either. Let’s look at the main #compliance updates in AML, gambling, and beyond in November.

What an unforgettable experience at SiGMA World in Malta 🇲🇹 The world's leading #iGaming festival brought us together with the industry's brightest minds for an inspiring mix of networking, workshops, and exciting discussions. From game-changing ideas to valuable connections, SiGMA was all about shaping the future of iGaming. Check out our team's highlights from this amazing event! #SiGMA2024 #SiGMAEurope2024 #GamingSummit

What are the new types of AI-powered fraud? 🤔 Answers Pavel Goldman-Kalaydin, Head of AI/ML at Sumsub 👇🏻 With machine learning and deepfake technology advances, AI-powered fraud techniques have become more accessible to cybercriminals. In 2024, #AI has quickly transitioned from an emerging technology to a widely available commodity. Now, AI technologies enable fraudsters to execute cheap, complex, and large-scale schemes. AI-powered tools are widely used to forge documents and create highly-convincing #deepfakes, impersonating trusted users during verification checks. Fraudsters can employ AI-driven bots to scrape personal data from social media, dark web marketplaces, and phishing campaigns to piece together synthetic identities. AI algorithms can also automate account takeovers by testing vast combinations of stolen credentials across multiple platforms, exploiting weak security systems. The accessibility of AI is proven by the results of our survey, which show that a majority of end users engage with AI tools frequently, either a few times a month (12%), a few times a week (26%), or daily (20%). This underscores the critical need for companies to adopt AI-driven defenses to stay ahead in the fight against increasingly intelligent threats. Check out Sumsub’s 2024 Identity Fraud Report to get insights into fraud prevention trends and recommended strategies for businesses to defend against fraud 🔗 https://lnkd.in/dkK3vcau

Sumsub is about people who are passionate about what they do, love spending time together, and always care for one another. Sumsub is about offices filled with dogs because they’re our best friends, and we don’t want to be apart from them for a whole workday. Sumsub is about a complex, innovative, and vital product we work on daily, helping millions worldwide receive reliable verification. We could talk for hours but prefer to let our actions speak. Learn more about our team, mission and products at https://lnkd.in/dYJMw6p2 💚

What our Liveness sees when a fraudster tries to cheat verification and the 'All I Want for Christmas Is You' season is just around the corner.

What’s the difference between an irresistible deal and a total disaster? 🛍️ Don’t let scammers ruin your shopping spree. Swipe through for must-know tips to shop smart and stay secure this season. Your wallet will thank you! #ShopSafe #SmartShopping #OnlineSafety #CyberSecurity