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02/01/2021

Synthetic ID Fraud Becomes An Authentic Problem; Hits 60 Percent Of All Businesses

PYMNTS

And the damage has been significant, as account takeovers (ATOs) were especially prevalent in 2020, with 60 percent of businesses reporting losses from those attacks. In an interview with PYMNTS, Jose Caldera, chief product officer at Acuant, said a “layered” approach to fighting fraud is the best defense — but it’s never a static one.

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