In 2020, there was a surge in people using online marketplaces to access products and services, many for the first time. This spike in new users has delivered fraudsters increased opportunities to take advantage of these newcomers. In fact, the global Fraud Detection and Prevention (FDP) market is projected to grow from $23.4 billion in 2019 to $38.6 billion in 2021.

As online marketplaces look to build on the momentum of 2020, the challenge they face is how to protect customers against ever-more sophisticated fraudsters and a rapidly evolving risk landscape.

Online marketplaces have been a particular target for criminals because they are built on new technologies and operate with new business models. Whether it’s puppy scams or fake goods, consumers are less familiar with these platforms and less knowledgeable about how to avoid fraud risk.

The Top 10 Fraud Signals Every Marketplace Should Monitor

In this discussion, we will explore the top 10 fraud signals to help keep bad apples out of your marketplace and build trust on your platform with online identity verification.

Join Trulioo COO Zac Cohen and OWI Principal Cameron D'Ambrosi as they examine how online marketplaces can:

  • Leverage a range of signals from identity verification and fraud to apply a risk-based workflow that delivers the perfect balance of security and customer experience.
  • Integrate upfront Know Your Customer processes and ongoing Anti-Money Laundering screening and transaction monitoring to generate a more comprehensive view of risk for each customer
  • Develop a strategic approach to identity verification that delivers comprehensive protection against fraud and money laundering, and builds trust throughout the customer lifecycle

Watch the webinar now to learn more about marketplace fraud

Facilitating trust in a shifting identity landscape

To provide additional insight into the changes brought about by digital identity, Trulioo partnered with One World Identity on a white paper.