Johannesburg, 24 Jan 2024
Over the past decade, Africa has experienced rapid growth in digital connectivity and technology adoption. Internet penetration has increased from 9.6% in 2010 to over 33%, with some countries surpassing 70%. Also, internet users have boomed from under 200 million to an estimated 570 million by 2022.
This digital transformation creates both opportunities and risks. As digital services have become more commonplace through online onboarding and transactions, there have been parallel rises in identity fraud attacks.
In a significant move to combat digital identity fraud in Africa, Smile ID, the continent’s leading identity verification provider, has released its comprehensive 2024 Digital Identity Fraud in Africa Report. The report is the first ever to focus specifically on fraud in Africa, and it covers identity fraud methodologies, characteristics and impact across Africa. It also contains a guide to implementing a comprehensive anti-fraud system to protect your organisation and users.
This groundbreaking report leverages Smile ID’s unique dataset covering over 100 million identity verifications on the continent and will provide decision-makers in Africa with an in-depth look at everything they need to know about mitigating fraud losses for their businesses.
Topics covered include:
- Data-driven insights into document, biometric and transaction fraud in Africa.
- Guide on how to set up a comprehensive anti-fraud system.
- Fraud trends in Southern, East, West, Central Africa, and different industries, from financial services to e-commerce.
Here are some of the interesting takeaways from the report:
- The last four years have seen a consistent increase in fraud rates across Africa
- The average document and biometric fraud rate has increased for six consecutive quarters since Q2 2022.
- Fraudsters are evolving towards biometric fraud, with rates reaching a record-high 13% in Q4 2023.
- 80% of ID fraud attacks are concentrated on national identity documents, making them the most exploited ID type.
Please download the report below.