Sift rolls out Fraud Aftershock Index

The index aims to depict the interconnectedness of industries as it relates to fraud, including how fraudsters move freely from one industry to another and are not limited to one type of fraud. Recent data breaches have given fraudsters a wealth of data to carry out different types of fraud attacks, including posting fake content, creating fake accounts or taking over legitimate accounts.

Sift’s Fraud Aftershock Index measures the impact and cadence fraudsters have when they commit multiple types of fraud or operate in more than one industry.

The two major aftershocks include:

• Fraud Type Aftershock: 45% of fraudsters commit more than one type of fraud;
• Industry Aftershock: 86% of fraudsters commit fraud in more than one industry.

With Sift’s Digital Trust & Safety Suite, businesses can apply Dynamic Friction across multiple types of fraud to deliver a customised experience, automatically letting legitimate customers through. Dynamic Friction is based on behavioural and situational attributes, so protection against fraud doesn’t result in customer insult for legitimate users, according to the official press release.

For more information about Sift, formerly Sift Science, please check out a detailed profile in our web fraud & e-identity company database.