A report by Australia's Information Commissioner details how operational failures allowed hackers to breach Medibank, stealing data from 9 million people.

Source: Sumsub

Sumsub, a leading global full-cycle verification platform, commits to tackling the alarming surge of fraud networks in Asia-Pacific (APAC) by launching its upgraded Fraud Prevention Solution. In addition to fraud networks, the upgraded solution will also help businesses address other pertinent fraud issues such as account takeovers, chargeback fraud, bot attacks and more.

Source: iDenfy

iDenfy, a Lithuania-based RegTech company best known for its identity verification solutions, has announced a new partnership with BlueMonks, a Dutch anti-financial crime boutique specializing in end-to-end compliance solutions.

In 2021, the United States witnessed approximately 1.6 million Bank Secrecy Act (BSA) reports, amounting to $212 billion in suspicious activity, all linked to the exploitation of identity processes during various financial transactions.

The Commodity Futures Trading Commission (CFTC) is urging policymakers to address identity-related challenges within the realm of Decentralized Finance (DeFi) operations.

AU10TIX reports a substantial 44% surge in organized identity fraud in North America compared to previous quarters. This increase is thought to be propelled by the ongoing economic recovery and inflationary pressures, notably in the US market, emboldening professional identity fraud syndicates.

Source: Fluid Finance

Fluid Finance, a fintech company headquartered in Geneva, has partnered with Sumsub, a global all-in-one verification platform, to enhance user onboarding and ensure bulletproof fraud protection.