GLOBAL SURVEY FINDS 78% OF CONSUMERS IN SINGAPORE READY TO SWITCH BANKS OVER INADEQUATE FRAUD PROTECTION

SUNNYVALE, Calif., June 27 (Bernama) -- Jumio, the leading provider of automated, AI-driven identity verification, risk signals and compliance solutions, today released new findings from its Jumio 2024 Online Identity Study. This year’s results highlight growing anxiety among consumers that weaknesses in their banks’ fraud-protection measures could leave them exposed to scammers, which would result in the vast majority (75%) switching providers — a figure that rises to 78% in Singapore.

Banks have long had to deal with impersonation fraud. But as deepfakes and voice cloning become easier to generate, schemes in which scammers pretend to be anything from a prospective romantic partner to a family member in crisis have the potential to target far more people and with a higher rate of success.