Improved Cybersecurity By Itself Isn’t Enough To Stop Fraudsters

Fraud has become an ever-present reality for businesses.

After the pandemic forced companies to do business virtually—many for the first time—what was once only the concern of large corporations became an issue that every business owner needed to think about. Fraudsters and hackers were eager to take advantage of lax and untested security measures. Fraud rates increased dramatically when the pandemic began, growing by 41% over the year prior.

Onfido's CEO Mike Tuchen authored a column on this topic for the Forbes Technology Council.