Identity fraud calculator

Calculate and understand how much identity fraud is costing your organisation.

From investigation costs to vendor costs, detecting and deterring identity fraud will never be free.

Your total cost is a set of delicate balances that ensures the lowest possible number. Understanding these balances will enable you to optimise your onboarding experience, keep your total cost of identity fraud under control and deter the fraudsters.



Customers attempting to sign-up

per/annum

Pass rate

Direct Fraud losses

per/annum

Vendor Costs

per/annum

Rate slider

Average match rates for onboarding new customers
  • pass
  • refer
  • friction
  • fail

Investigation Costs

Average cost of every fraud investigation
£
REFER decision rate
Loss
£

Friction Driven Drop-Off Costs

Lifetime value
£
Drop-off rate
Loss
£

Failed Identity Match Costs

Lifetime value
£
FAIL decision rate
Loss
£

Total Cost of Identity Fraud

£

per/annum


What is identity fraud?

Identity fraud occurs when a fraudster uses stolen personal information for their financial gain. This can be a real person or a combination of real and fake information, which is known as a synthetic identity. Fraudsters then use this stolen identity to open new bank accounts, apply for credit or attempt to take over the victims bank account.

 

How GBG can help you detect and deter identity fraud

The best way to detect identity fraud and deter fraudsters, is to stop them at the front door. With GBG you can layer data and document checks at the point of onboarding a new customer. This approach enables you to confirm that the identity exists, verify that the person presenting it is real and flag any associated risks with the identity, empowering you to keep fraudsters out while onboarding good customers.

Chat with us today

Our identity fraud experts are here to provide advice on how you can reduce the cost of identity fraud while onboarding good customers.

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