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Financial institutions (FIs) are in a never-ending struggle with criminal hackers over identity fraud — and unfortunately, right now many FIs are on the losing end.

New report: Application fraud is a serious threat to financial institutions

Financial institutions (FIs) are in a never-ending struggle with criminal hackers over identity fraud — and unfortunately, right now many FIs are on the losing end.Financial institutions (FIs) are in a never-ending struggle with criminal hackers over identity fraud — and unfortunately, right now many FIs are on the losing end. According to Aite Group research, nearly half of U.S. consumers experienced identity theft from 2019 to 2020. Additionally, 37% of consumers also experienced application fraud — a method of identity fraud that involves bad actors using consumer information to create a new account for fraudulent activity. Application fraud can be a devastating experience for

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