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Indian Finance Institutions “Two Times” More Likely to Observe Frauds than Their US Counterparts
December 01, 2018
According to TransUnion Cibil Fraud Trend 2018 report, finance firms that are based in India are 2 times more likely to detect identity theft that took place in the past 12 months than the finance firms based in the US. It said that for 62% of the Indian companies a major problem in identity theft detection is the absence of solutions that are flexible enough to be adjusted in real-time. It also said that the end-user authentication process used by Indian firms is difficult which leads to poor customer service.
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