Fraudsters continue to evolve, with technology making it easier to get started and thrive, Sift's new Digital Trust and Safety Index shows.
American Banker discusses the evolution of online lending fraud and the industry's vulnerabilities; the combination of synthetic identities and multiple loan inquiries known as loan stacking have increasingly become a threat in the industry; while a number of new systems have been implemented to mitigate fraud the nature of the business makes it more susceptible with fraud prevention solutions becoming more prevalent. Source