Last Updated on 10/12/2021 by Nidhi Khandelwal
Fraudsters prefer to manufacture a false paper from scratch rather than doctoring a legitimate ID, according to other major findings in the report.
“In the past year, almost 90% of ID fraud involved counterfeit documents that were a complete reproduction of an original document rather than altering an existing ID,” according to Onfido.
Modern identity documents have a number of security features that make changes easy to spot, but fraudsters are upping their game and developing more sophisticated forgeries.
In the prior year, 47 percent of all identity document fraud was classified as “medium” sophisticated fraud, up 57 percent from the year before.
Identity theft has not yet returned to pre-pandemic levels. In 2020, there will be a 41 percent increase in ID fraud, with the average rate reaching 5.8%. The average fraud rate during the last year was 5.9%.
“False documents provide opportunities for major organised crime, such as money laundering and terrorist financing.” As a result, failing to recognise counterfeit documents in both real-world and online settings poses a risk to the global economy, countries, and citizens,” INTERPOL stated.
“We are increasingly required to adapt to the digital as well as physical use of identity cards.” In this context, both businesses and governments are having difficulty detecting fraud.”