Signicat fraud prevention hub: know, prevent, win against fraud
Prevent digital fraud before it starts with real-time fraud prevention and smarter detection. Trusted by over 20,000 businesses, we help you onboard customers, secure accounts, detect fraudulent activity, and manage online transactions. All while staying compliant across borders.
Before tackling fraud, we need to define it. Knowing what fraud prevention means, why it matters, and how it protects digital trust sets the stage for everything that follows.
What is fraud prevention?
Fraud prevention is a proactive strategy to protect businesses and customers by stopping financial crime before it causes harm.
Fraudsters aim to take over accounts, steal identities, launder money, or exploit systems through chargeback and bonus fraud. To do this, they rely on tactics like impersonation, synthetic identities, social engineering, and device spoofing.
As cybercrime grows more advanced, prevention must move beyond reacting to incidents. It means anticipating threats and using technology, data, and user awareness to detect fraud early, reduce risk, and safeguard trust.
With the fundamentals defined, the next step is to explore why proactive fraud prevention is no longer optional—but mission-critical.
Why is fraud prevention important?
Fraud prevention is important for businesses, consumers, and financial institutions as fraudulent activity continues to rise. According to recent data, global financial crime losses may reach €46 billion by 2025, with synthetic identity fraud accounting for 30% of cases worldwide. Payment scams drain resources, and account takeovers in the EU have risen by 16%.
The tactics used by fraudsters are constantly evolving. As technology advances, criminals are using emerging technologies such as deepfakes, AI-generated identities, and fraud-as-a-service platforms to scale their attacks. Data from the AI-driven Identity Fraud report shows fraud attempts have surged by 80% in the last three years, with deepfakes now accounting for 6.5% of all fraud attempts—a staggering 2137% increase. To stay secure, businesses must invest in comprehensive fraud prevention solutions to keep up with these increasingly sophisticated threats.
To see how these threats play out in the real world, let’s break down the most common fraud schemes by industry.
Types of fraud in business
Understanding financial crime typologies and common scams is essential to protecting your business. Below are some of the most prevalent types of fraud affecting various industries, based on our latest research The Battle in the Dark:
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Application fraud is both the most frequent and the most costly tactic, specific to this sector. Document fraud and account takeover are also on the rise.
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Identity document forgery is the most widespread type of fraud in banking. Loan fraud—unique to banking—is notably common but not the most financially damaging. Account takeover remains the costliest threat in this sector.
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While identity document forgery is the most common tactic in this sector, digital wallet fraud occurs with high frequency, distinguishing this industry. Rather than targeting customer accounts directly, fraudsters often take control of wallets to access payment methods or winnings.
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Synthetic identity fraud is more prevalent here than in other industries. The high potential value of fraud in this market prompts businesses to implement stricter safeguards, yet fraudsters respond with increasingly sophisticated techniques.
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Account takeover is the most common fraud tactic in fintech. Loan fraud is nowhere near as popular as in banking, but as fintechs diversify their offering to include credit, this is a trend they should be aware of.
Knowing which scams you face is only half the battle — the next is understanding how fraud prevention and fraud detection work together to stop them in their tracks.
Fraud prevention vs. fraud detection
Fraud prevention and fraud detection are both essential, yet they tackle fraud differently. Here’s how each one plays its part:
Fraud prevention stops fraud before it starts. Tools like electronic ID verification, automated risk assessments, behavioural profiling, and velocity checks help block threats early—before they can harm your business.
Fraud detection identifies threats as they happen. Techniques such as deepfake detection, document authenticity checks, validation against blocklists, and risk-based manual reviews highlight suspicious activity for investigation.
Together, they strengthen your defences. A clear fraud prevention plan reduces risk through defined processes, roles, and response protocols. Working with a trusted fraud prevention partner ensures the right tools are in place for your specific risk landscape.
Turning these principles into protection takes experience—this is where Signicat delivers. Next, explore how our solutions bring these defences to life.
How does Signicat prevent fraud?
Signicat delivers tailored fraud prevention solutions to protect every stage of the customer experience. From onboarding to continuous monitoring, our fraud detection and prevention systems provide robust defences. Using AI, biometrics, risk analysis, and real-time blocking, we identify fraudulent patterns before they cause harm.
Why Signicat leads in fraud prevention
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End-to-end identity protection
From onboarding to real-time monitoring, we secure every interaction.
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All-in-one platform
Handle compliance, fraud checks, and identity verification for digital onboarding in one place.
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Proven ROI
Customers report a 303% return on investment from the Total Economic Impact™ of Signicat study through reduced fraud, improved trust, and faster workflows.
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AI fraud prevention
We catch fake accounts, detect anomalies, and block threats in real time.
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Built-in compliance
Fully aligned with AML, PSD2, and GDPR standards.
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Global reach
Access over 200 trusted data sources across 35+ countries.
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Simple for users
Strong protection with zero friction for your customers.
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Industry recognition
Named Best Digital Fraud Solution at the 2024 Global BankTech Awards.
Signicat’s fraud-prevention products
Don’t just react to fraud—prevent it. Explore our suite of tools and find the right fit for your business.
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Verify document authenticity while preventing fraud with advanced defences against tampering and manipulation
- Use optical or NFC-based checks to confirm ID document authenticity
- Block biometrical presentation and injection attempts with likeness and liveness checks
- Match faces to IDs using biometric comparison
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Spot fraud patterns early and act fast with Risk Flow Orchestration.
- Monitor velocity checks to flag suspicious behaviour
- Integrate with device profiling and fraud scoring
- Automate step-up verification when needed
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Expose false claims before they become threats with customer data verification.
- Cross-check user data against trusted global sources
- Instantly verify identity, address, geo-location and phone subscription
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Tap into 35+ national eid schemes for secure, verified access with digital identification solutions.
- Support high-assurance checks, including National ID cards
- Set custom assurance levels to match your risk model
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Secure mobile experiences without slowing users with mobile authentication solutions
- End-to-end encrypted communication
- Additional protection for high-risk transactions
- Built-in runtime self-protection
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Identity authentication solution for fast, secure biometric login on any device.
- Two-second facial scans
- 3D liveness detection
- High-confidence matching with zero friction
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Secure the signing process from start to finish with electronic signature API.
- Authenticate users before they sign
- Share sensitive files securely
- Block unauthorised access with full traceability
Protect your business: Signicat fraud prevention
Fraud prevention doesn’t need to be complex. We help you move fast and stay secure.
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We assess your current setup and highlight key gaps.
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Use low-code or no-code APIs for rapid deployment.
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Get instant alerts and block fraud before damage is done.
Frequently Asked Questions (FAQ)
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Yes. Our solutions fully comply with AML, PSD2, and GDPR, ensuring you always meet regulatory requirements.
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No, our solutions are user-friendly and easy to implement, even without dedicated technical resources.
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You can go live in days with Mint, our user journey manager. Alternatively, you can use our well-documented APIs to seamlessly embed our solutions into your existing flows.
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Educate employees and customers to spot scams. Layer multiple technologies for stronger protection. Build profiles to allow pattern recognition and anomaly detection.