Protect Your Bank and Your Customers

  • 905722e179ad228140b378ff98c541cc Insights
  • Readingtime icon Read in: 5 mins
  • by: Lawrence Griffith

Bank fraud is a growing concern for businesses, with the number of reported cases increasing year after year. In fact, according to data from the Federal Trade Commission, the number of reported bank fraud cases in the United States has skyrocketed from 332,545 in 2014 to 1,686,121 in 2021. That's a staggering 407% increase in just seven years. As the threat of bank fraud continues to rise, it's more important than ever for businesses to take proactive measures to protect themselves and their customers. At our company, we specialize in location verification, a powerful tool that can help prevent bank fraud before it even occurs.

   

Bank fraud is a persistent problem that shows no signs of slowing down. While the total number of reported bank fraud cases increased by 39% in 2020 alone, the overall trend over the past several years has been one of steady growth. Criminals are becoming increasingly sophisticated in their tactics, and businesses need to stay one step ahead in order to protect themselves.

Digital Factory provides location verification services that can help businesses identify potential fraudsters before they have a chance to strike. Our technology uses a variety of data sources to confirm the physical location of a user. By comparing this information to a user's stated location and other behavioral data, we can quickly identify suspicious activity that could indicate a potential fraud attempt.

The benefits of location verification go beyond just preventing fraud, too. By verifying the location of a user, businesses can also gain valuable insights into their customer base. For example, businesses can use this information to better understand which geographic areas are driving the most sales, or to personalize their marketing messages based on a user's location.

If you're interested in learning more about how we can help your business, don't hesitate to reach out to us today.

 

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