The report found that fraudsters have virtually eliminated any single reliable indicator for detecting fake identities online. Data gathered from Socure customer transactions by Aida, the company’s identity verification robot, reveals that when considering common signs of fraud the difference between authentic and fake identities is nuanced at best.
Data used in the report is based on actual fraud attempts detected by Socure’s Aida-powered ID+ Platform across the company’s client base. Socure’s clients confirmed the determination of all fraudulent and valid accounts. The study assessed hundreds of indicators of fraud to determine how reliable they are for detecting fake identities. Following are eight of the most interesting indicators:
Mobile. When a phone number is required, two thirds of the numbers provided by legitimate applicants were registered with a Top Carrier (67%), while just over half of fraudsters (52%) did so.
Names. Fraudsters typically use the most common male names, like John, James, David, or Michael, etc.
Social Media Accounts. Approximately 80% of fraudulent identities have no associated social media accounts.
Device Location. Most fake IDs use IP addresses that are inconsistent with their actual location.
Valid Email Address. There is very little difference between legitimate applicants (97%) and fraudsters (87%) when it comes to submitting a valid email address.
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