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Online Fraud is Surging, AI is the Weapon of Choice, Says Veriff's New Report
In light of Fraud Prevention Month, Veriff’s US Fraud Industry Pulse Survey 2025 reveals escalating fraud threats and the critical role of IDV and AI in combating them.
New York, March 13, 2025 (GLOBE NEWSWIRE) -- Veriff, a global identity verification and authentication platform, released its US Fraud Industry Pulse Survey 2025, revealing a significant rise in online fraud impacting businesses across the nation.
Amongst surveyed US fraud professionals and decision-makers in sectors like financial services, tech, and e-commerce, 72% report a surge in attacks over the past 12 months; 60.5% have seen an increase in the use of AI in attacks. A striking 90% of respondents anticipate an increase in online fraud in 2025.
“Industry professionals are fighting back, embracing customer identity verification (IDV), biometrics, and the power of AI in their attempts to stay ahead of the ever-evolving online fraud threat,” said Iryna Bondar, Senior Fraud Group Manager at Veriff.
While many businesses are confident in their fraud prevention capabilities, the report also reveals that a significant portion remains underprepared, highlighting the necessity for continuous improvement and adaptation.
"The shifting nature of the fraud threat has to be top of mind for businesses," says Bondar, who adds, "The only way to stay ahead of this threat is to have a flexible and adaptive approach to fraud prevention and to have the full range of tools available. We talk often about the need to create a fraud-prevention ecosystem, and this is exactly the reason why.”
Key takeaways from the US Fraud Industry Pulse Survey 2025:
- Escalating fraud: 72% of US businesses have seen an increase in online fraud in the past 12 months, highlighting a consistent rise in the threat.
- Financial impact: 75.5% of businesses report revenue losses due to fraud, with 32% experiencing a 3-5% reduction.
- AI's dual role: 60.5% have seen an increase in AI-driven fraud attacks, while 64% are utilizing AI for fraud prevention.
- Customer expectations: 71.5% of respondents indicate customers are demanding robust fraud prevention capabilities.
- IDV and biometrics adoption: 83% have adopted IDV and/or biometrics in their authentication systems, with 81% planning to increase their reliance on these technologies.
The Veriff Fraud Industry Pulse Report is compiled after extensive analysis of our survey of US-based fraud decision-makers at businesses with more than 100 employees or a revenue of over $100M. Get access to the report here; all reports published by Veriff are accessible here.
About Veriff
Veriff is the preferred identity verification and authentication platform partner for the world's most innovative growth-driven organizations, including online marketplaces, financial services, gaming and mobility companies, and other sectors. By combining AI and human verification teams, Veriff ensures bad actors are kept at bay and genuine users experience minimal friction in their customer journey. Veriff enables organizations to build customer trust through seamless, AI-powered identity verification and authentication. The Veriff IDV platform offers secure, scalable solutions trusted by organizations across industries.
Veriff press@veriff.com
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