Credit fraud is growing by 25% a year and is expected to reach $45 billion in annual losses by 2023, according to WPI Economics: As our lives increasingly take place online, the nature of the threats is changing, as evidenced by the increasing prevalence of identity theft and synthetic identity fraud.
Fraud has consequences that go beyond financial loss (such as terrorist financing, for example). Although banking institutions have already put in place a number of tools to combat this scourge, 10% of fraud goes undetected.
Carrefour Banque has not escaped these statistics: out of 1000 euros of consumer credit granted, between 3.10 and 4.54 euros were detected as fraudulent by Bleckwen's technology.
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