A chain is only as strong as its weakest link. A team is only as strong as its weakest player. This idea comes with big implications — especially in the world of online fraud detection.
In the fight against online identity fraud, your “team” isn’t just made up of internal tools and experts. It includes onboarding processes, authentication protocols, AI-powered identity verification, and seasoned fraud, compliance, and risk professionals. But in today’s threat landscape, that team should also extend beyond your walls — to other businesses facing the same sophisticated attacks and racing to stay one step ahead.
Every time fraud is attempted — whether stopped, successful, or sidestepped—the affected company gains valuable insights that could help others defend themselves. It’s exactly how fraudsters operate: they adapt, share tactics, and evolve with every outcome. To truly strengthen the chain, businesses must think the same way — acting as linked allies in a shared defense.
Because when it comes down to it, we’re all on the same team. We should be.
The interconnected nature of digital platforms and the reuse of stolen credentials across multiple sites suggest that a single fraudster can impact numerous organizations. For instance, the FBI reported that in 2023, American consumers and businesses lost a record $12.5 billion to online scammers, marking a 22% increase over the previous year. This substantial figure underscores the widespread reach and significant impact that online fraudsters can have across various sectors.
As part of a team, every individual business is either paving the way for fraud to multiply or contributing to its demise.
What if you had a way to strengthen each player on the team — every business, including yours — by proactively joining forces across industries and worldwide so that if one company flags an identity as fraudulent, it can alert others (with privacy-respecting protocols)? Instead of point-in-time identity checks, you could benefit from continuous and connected intelligence across a network of businesses.
The Power of Connected Intelligence
Connected intelligence refers to an AI-driven approach to identity assurance and fraud detection where real-time and historical identity data inform a connected network of businesses and organizations to help stop fraudulent identities, highlight potential risks, and smooth the way for low-risk users.
At Jumio, we’re evolving beyond traditional, point-in-time identity verification with our Cross-Transaction Risk capability, a connected intelligence solution that leverages a dynamic blend of legitimate user and fraud data so businesses can:
- Make faster, more informed decisions with real-time, enriched insights into user identity history.
- Proactively detect and stop fraud before bad actors gain access.
- Reduce operational costs by automating detailed risk assessments, minimizing manual review and account consolidation.
- Enhance user trust by streamlining onboarding for legitimate users while preventing repeat fraud attempts.
With Jumio’s Cross-Transaction Risk and approach to connected intelligence, the chain of protection against online fraud becomes stronger.
We invite you to learn more about Cross-Transaction Risk (watch a quick video here) and keep an eye out as we continue to evolve to bring you the assurance you need to onboard good customers faster and stop the spread of fraud.
