Karita Sall

Kaukver’s deep tech background and global experience scaling products will help drive innovation and growth amid increasing online fraud

Veriff, a global AI-native identity verification company powering trust infrastructure online, today announced the appointment of Ott Kaukver, former CTO of Twilio and Checkout.com, to its Board of Directors. Kaukver’s appointment underscores Veriff’s commitment to making trust reliable and scalable online.

Ott Kaukver, former CTO of Twilio and Checkout.com, appointed as a member of Veriff's Board of Directors.

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Ott Kaukver, Former Twilio CTO, Joins Veriff’s Board of Directors

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Chris Hooper

This year's MoneyLIVE London 2025, held at the Business Design Centre, brought together industry leaders, tech innovators, and financial institutions to discuss the evolving landscape of digital identity, authentication, and fraud prevention.

Among the standout discussions was the panel "Unlocking Value with Next-Gen Identity and Authentication," featuring experts from Lloyds Banking Group, BankID, Veriff, and Banco Santander. The session tackled the transformative role of digital identity solutions, AI-powered fraud prevention, and the growing need for collaboration in the financial sector.

With deepfake fraud on the rise and regulatory landscapes evolving, financial institutions must embrace next-generation ID verification (IDV) technologies to stay ahead.

Join industry leaders, tech innovators, and financial institutions as they explore the future of digital identity, authentication, and fraud prevention at MoneyLIVE London 2025.

Finserv

Discover insights from MoneyLIVE London 2025, where experts discussed digital identity, AI-powered fraud prevention, and next-gen ID verification to tackle rising fraud.

MoneyLIVE London 2025 | Future of Digital Identity & AI in Finance

Join Our Exclusive Webinar: Insights from the Pulse Survey 2025

MoneyLIVE London 2025: Unpacking the future of digital identity & AI in financial services

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Nänsi Männik

Amongst surveyed US fraud professionals and decision-makers in sectors like financial services, tech, and e-commerce, 72% report a surge in attacks over the past 12 months; 60.5% have seen an increase in the use of AI in attacks. A striking 90% of respondents anticipate an increase in online fraud in 2025.

“Industry professionals are fighting back, embracing customer identity verification (IDV), biometrics, and the power of AI in their attempts to stay ahead of the ever-evolving online fraud threat,” said Iryna Bondar, Senior Fraud Group Manager at Veriff.

While many businesses are confident in their fraud prevention capabilities, the report also reveals that a significant portion remains underprepared, highlighting the necessity for continuous improvement and adaptation.

"The shifting nature of the fraud threat has to be top of mind for businesses," says Bondar, who adds, "The only way to stay ahead of this threat is to have a flexible and adaptive approach to fraud prevention and to have the full range of tools available. We talk often about the need to create a fraud-prevention ecosystem, and this is exactly the reason why.”

Key takeaways from the US Fraud Industry Pulse Survey 2025:

Escalating fraud: 72% of US businesses have seen an increase in online fraud in the past 12 months, highlighting a consistent rise in the threat.

Financial impact: 75.5% of businesses report revenue losses due to fraud, with 32% experiencing a 3-5% reduction.

AI's dual role: 60.5% have seen an increase in AI-driven fraud attacks, while 64% are utilizing AI for fraud prevention.

Customer expectations: 71.5% of respondents indicate customers are demanding robust fraud prevention capabilities.

IDV and biometrics adoption: 83% have adopted IDV and/or biometrics in their authentication systems, with 81% planning to increase their reliance on these technologies.

The Veriff Fraud Industry Pulse Report is compiled after extensive analysis of our survey of US-based fraud decision-makers at businesses with more than 100 employees or a revenue of over $100M. Get access to the report here; all reports published by Veriff are accessible here.

In light of Fraud Prevention Month, Veriff’s US Fraud Industry Pulse Survey 2025 reveals escalating fraud threats and the critical role of IDV and AI in combating them.

New York, Mar 13, 2025 -- Veriff, a global identity verification and authentication platform, released its US Fraud Industry Pulse Survey 2025, revealing a significant rise in online fraud impacting businesses across the nation.

Veriff, a global identity verification and authentication platform, released its US Fraud Industry Pulse Survey 2025, revealing a significant rise in online fraud impacting businesses across the nation.

Online Fraud is Surging, AI is the Weapon of Choice, Says Veriff's New Report

Online Fraud is Surging

“External accolade, especially from market research and analyst Chartis, which has such a comprehensive knowledge base about the industry, recognizes our mission – making the internet a safer place for everyone,” said Veriff’s Founder and CEO Kaarel Kotkas. Previously, Veriff has been named by Chartis Research as a category leader in Chartis RiskTech Quadrant for Enterprise Fraud Solutions (2024) and Chartis RiskTech Quadrant for IDV solutions (2023).

Veriff’s inclusion in this year’s ranking underscores its commitment to providing cutting-edge solutions that empower financial services to mitigate risk and maintain regulatory compliance. “Financial crime generated $3.1 trillion in 2023 from transnational illicit activities, ranging from romance scams to human trafficking. Overall, online fraud grows year-by-year around 20%, and financial services remain one of the industries most likely to be targeted by fraudulent attacks. That’s why every business needs a multi-layered approach that combines a range of fraud mitigation tools to stay ahead of fraudsters,” commented Kotkas.

The FCC50 report evaluates the top 50 vendors in financial crime technology, focusing on their ability to innovate in areas like anti-money laundering (AML), fraud detection, sanctions screening, and KYC compliance. The comprehensive assessment highlights market influence, technological innovation, and strategic vision, offering a thorough understanding of how these leaders are shaping the future of financial crime prevention.

Leading IDV provider recognized for innovation and effectiveness in the fight against financial crime.

New York, Mar 10, 2025 -- Veriff, a global identity verification and authentication platform, has been named one of the top 50 vendors in the Chartis Financial Crime and Compliance 50 (FCC50) report. Chartis Research is a leading provider of independent research and analysis on the global market for risk, compliance, and financial technology. Veriff also received a category award for Proof of Address, highlighting its exceptional capabilities in this critical area of compliance.

Veriff, a global identity verification and authentication platform, has been named one of the top 50 vendors in the Chartis Financial Crime and Compliance 50 (FCC50) report.

Veriff Secures Spot in Chartis Financial Crime and Compliance 50

The new integration enables organizations to automate operations, improve efficiency, and provide a seamless identity verification experience, saving time and development resources.

Streamline identity verification and boost growth with Veriff's Zapier integration. Automate workflows, save resources and improve efficiency.

Veriff Automates Identity Verification for Startups & SMBs via Zapier

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Veriff Boosts Growth for Startups and SMBs with Streamlined Identity Verification via Zapier

Announcement

Maksim Afanasjev

Staff Product Manager at Veriff, Maksim Afanasjev explained that integrating IDV can be a significant hurdle for many startups and SMBs. “Many smaller businesses lack engineering resources and development complexities often hinder their ability to implement robust verification solutions quickly and efficiently. They struggle with bringing results and data into their tooling and analyzing them. Zapier integration breaks down those barriers enabling businesses to accelerate growth and improve operational effectiveness.”

“There are no limits to the industries or verticals that can use this solution. However, we see the most benefit from our integration in e-commerce platforms, financial services, and SaaS applications,” Afanasjev added.

Veriff's App for Zapier enables organizations to automate their identity verification decision workflows and speed up the decision-making process. By connecting Veriff with thousands of other apps, this no-code solution eliminates the need for complex development, saving valuable time and resources, while enabling faster processing of verification results.

Learn more and get started with Veriff for free.

New York, Jan 30, 2025  -- Veriff, a global identity verification and authentication platform, today launched its App for Zapier, empowering businesses to automate verification workflows and accelerate their journey to market. The integration is best suited for small and medium businesses (SMBs) starting their IDV journey with Veriff or looking to streamline decision-making processes.

Veriff, a global identity verification and authentication platform, today launched its App for Zapier, empowering businesses to automate verification workflows and accelerate their journey to market.

According to the report, receiving the highest – Luminary – classification, Veriff particularly stands out with Identity Proofing and Verification Prism Beam thanks to the robust and versatile technology bolstered by document and biometric liveness detection.

“An acknowledgment from the market analyst Acuity Market Intelligence is a testament to our mission of making the internet a safer place where fraud prevention, compliance enablement, and enhancement of user experience play key roles,” commented Kaarel Kotkas, founder and CEO of Veriff. “As we continue to grow, we always keep in mind our vision for the future – a world where “one reusable identity” rules them all, simplifying the experience of our digital lives,” he added.

The 2024 Flagship Edition of the Biometric Digital Identity Prism Report is the second annual report dedicated to laying out the digital identity landscape with biometrics at the core. It collects, collates, and analyzes the Prism Project’s 2024 research on digital transformation and its intersection with identity in financial services, government services, and travel and hospitality. The full report is available for download from here.

Luminaries are defined as leaders and trend-setters in their industry segment.

New York, Jan 28, 2025 -- Veriff, a global identity verification and authentication platform, has been named a Luminary in the Biometric Digital Identity Flagship Prism Report 2024 by Acuity Market Intelligence. The recognition highlights Veriff’s commitment to excellence and innovation in the digital identity landscape.

Veriff, a global identity verification and authentication platform, has been named a Luminary in the Biometric Digital Identity Flagship Prism Report 2024 by Acuity Market Intelligence. The recognition highlights Veriff’s commitment to excellence and innovation in the digital identity landscape.

Veriff Recognized as a Luminary in Biometric Digital Identity Flagship Prism Report 2024 by Acuity Market Intelligence

Kaarel Kotkas

Veriff continues with strong 75% year-over-year revenue growth in Q4 2024, tripling its volumes and increasing the number of customers by 60% compared to Q4 2023. These significant growth figures are driven by the increasing demand for Veriff’s AI-driven technology, as companies need robust IDV and fraud prevention solutions to operate online successfully. Meanwhile, fraud attacks continue to grow exponentially, especially as deepfakes become more sophisticated, and it has become increasingly challenging to know what information is real or fake. 

“Veriff is in the strongest position ever – we are the fastest growing company in the identity space with a solid balance sheet,  and we are focusing on profitable growth. Last year, we built great momentum to keep investing in our product portfolio expansion and continue taking new global markets,” commented Kaarel Kotkas, founder and CEO of Veriff.

Veriff is uniquely positioned because its technology is not just about identity verification. “While others treat each verification as the first one they see, we're getting smarter and more accurate with every session, enabling our customers to onboard trusted people. In essence, we are not just verifying identities; we are building a global trust score,” Kotkas added.

While the company's business volumes grew most strongly in Latin America last year (2.5x), the vast majority of its volumes and revenue come from the United States. "I am proud that a number of globally renowned large tech companies that we as consumers use daily are Veriff customers today. Hundreds of millions of people around the world use Veriff's solutions – be it when they make online payments or use ride-hailing services," added Kotkas.

In 2024, Veriff announced multiple product innovations, achievements, and feature updates. These include significant updates to the IDV product suite, including the Full Auto IDV v3 solution, using advanced AI algorithms to verify an identity entirely automatically; enhancements to Veriff Biometric Authentication and successful completion of iBeta Level 2 biometric liveness detection compliance.  Also, the FaceBlock feature for Veriff Self-Serve was introduced.

In 2025, the company is expanding its footprint in Latin America to better serve its expanding global customer base in the Americas by opening a technology hub in São Paulo, Brazil, this spring.

With tripling its volumes, Veriff continues to enable trusted online engagements across the globe

New York, Jan 07, 2025-- Veriff, a global identity verification and authentication platform, announced significant growth today as organizations worldwide use its AI-powered technology to reduce fraud, deepen customer relationships and build trust online. With tripling its volumes, Veriff continues to enable trusted online engagements across the globe.

Veriff, a global identity verification and authentication platform, announced significant growth today as organizations worldwide use its AI-powered technology to reduce fraud, deepen customer relationships and build trust online. 

Veriff Achieves Exceptional Growth in 2024 Driven By New Customers and Product Expansion

Iryna Bondar

The findings show that fraud is a problem that refuses to go away. According to the report, one in every 20 verification attempts encountered in 2024 was fraudulent. Consistent with this finding, online fraud has increased 21% in 2024 remaining at similar level as in 2023 (20%). With U.S. business leaders reporting a loss of up to 9 cents of every dollar they earn to fraud, the financial impact of fraud will only continue to grow in 2025. As businesses expand their digital footprint, fraud tactics will evolve, becoming increasingly refined to evade detection. 

Impersonation fraud accounted for over 82% of all fraudulent attempts, a number compounded by deepfakes. As deepfakes continue to evolve, so will the sophistication of fraud attacks. Adversary-in-the-middle attacks, for example, are traditionally more complex, making them less common. Still, this year’s data shines a light on their increased usage – adversary-in-the-middle attacks increased by 46% compared to 2023 –  further proving that fraudster sophistication is rising.

E-commerce took the brunt of fraud attacks, with a fraud rate 18x the global average. Financial services remain one of the most targeted industries by fraudulent attacks. However, e-commerce was the only industry with more authorized fraud than financial services in 2024. Rewards for fraudsters are arguably as great in e-commerce as in financial services, with millions of dollars changing hands between merchants and customers every day.  

Account takeover and multi-accounting fraud 

The report also highlights two other notable types of fraud: account takeover, where cybercriminals take ownership of online accounts using stolen passwords and usernames, and multi-accounting, which is the practice of opening multiple accounts to take advantage of promotions or playing bonuses. Both fraud methods surged in 2024, with account takeover cases increasing by 13% compared to 2023 and multi-accounting seeing a 10% year-on-year increase.

“Fraud continues to evolve at a rapid pace, with technological advances like AI and deepfakes making fraud attempts more ubiquitous across industries," said Ira Bonder, Senior Fraud Group Manager for Veriff.  “The best process for combatting fraud is exposure to the many different types of fraudulent attacks. Veriff prevents thousands of fraud attempts every day, empowering our team and technology with the insights required to identify fraud while streamlining the valid user experience.”

Veriff’s Identity Fraud Report 2025 covers more industries, regions, fraud types, and use cases than ever before. You can read the full report here.

Impersonation fraud accounts for 82% of fraud attempts as AI and deepfakes drive more sophisticated attacks

New York, Dec 03, 2024 - Veriff, a global identity verification and authentication provider, today released the Veriff Identity Fraud Report 2025. This annual investigation into the state of online fraud draws from analysis of customer data and field research over the last 12 months. 

Veriff, a global identity verification and authentication provider, today released the Veriff Identity Fraud Report 2025. This annual investigation into the state of online fraud draws from analysis of customer data and field research over the last 12 months. 

Veriff 2025 Identity Fraud Report: Online Fraud is Up by 21%

Anton Volkov

With a 21% rise in all online fraud from 2023 to 2024 (Veriff Identity Fraud Report, 2025), it continues to pose a significant risk to companies and consumers.

“One of the fastest-growing threats is synthetic identity fraud, where fraudsters combine real and fake information to create entirely new identities. Unlike traditional identity theft, synthetic fraud often goes unnoticed until significant financial damage occurs,” said Anton Volkov, Senior Product Manager at Veriff.

“The rise of synthetic identity fraud is compounded by emerging technologies such as deepfakes. Fraudsters increasingly use hyper-realistic manipulated visuals trying to pass identity verification checks,” he added.

Tackling such identity fraud requires a collective effort and to keep businesses and consumers safe, Volkov emphasized the importance of:

Raising awareness about deepfakes and synthetic identities.

Always validating the source of information.

Investing in deepfake detection tools and technologies.

Understanding further risks associated with deepfakes, such as invoice fraud and CEO fraud, multiple account creation and service abuse, and account takeovers.

For more insights on fraud prevention strategies and industry trends, join the Veriff Identity Fraud Report 2025 waitlist.

With a 21% rise in all online fraud from 2023 to 2024, it continues to pose a significant risk to companies and consumers.

New York, Nov 29, 2024 -- Veriff, a global identity verification and authentication platform, shared expert insights into the evolving fraud landscape and the future of identity verification at the MoneyLIVE Payments Amsterdam 2024 session. One of the growing trends in the industry is synthetic identity fraud.

Veriff, a global identity verification and authentication platform, shared expert insights into the evolving fraud landscape and the future of identity verification at the MoneyLIVE Payments Amsterdam 2024 session.

Synthetic identity fraud as an emerging threat: insights from Veriff at MoneyLIVE Payments Amsterdam 2024

From financial services to e-commerce, identity fraud continues to evolve, taking on unique forms in different industries and regions worldwide. These early insights underscore the necessity of dynamic, layered defenses to keep pace with the emerging fraud landscape.

“Fraudsters leverage new technologies and have refined their tactics to evade detection. They share their insights in their communities, unlike the businesses in the IDV industry, although we fight the common enemy – fraud online. Sharing knowledge and expertise in our fraud report is a step towards raising awareness and building an anti-fraud community,” said Kaarel Kotkas, CEO and founder of Veriff.

Fraud hotspots. This year, financial services and e-commerce were hit hardest by online fraud, with authorized fraud in e-commerce surging to over 18 times the global average. The ease of unauthorized access and high rewards in these sectors make them prime targets for fraudsters.

Regional variability. While the global threat of identity fraud remains high, certain regions experience distinct fraud patterns in 2024. This variation highlights the importance of region-specific defenses and the need for businesses to stay vigilant in monitoring local fraud trends.

Emerging fraud tactics. Impersonation attacks accounted for more than 82% of the fraud attempts Veriff intercepted, while sophisticated adversary-in-the-middle* attacks surged by 46% compared to last year, highlighting an increase in the complexity of fraudsters' tactics.

Based on a comprehensive analysis of fraud patterns across industries, regions, and emerging tech, the report captures an in-depth picture of online fraud and shares the predictions by fraud experts for combating it. Looking ahead to 2025, Veriff’s report offers predictions, including the impact of artificial intelligence advancements on the fraud landscape.

To learn more, join the waitlist to be among the first to receive the Veriff Identity Fraud Report 2025, launching soon.

*a type of cyberattack where cybercriminals intercept, relay or alter the communication between two parties without their knowledge while giving the impression of direct communication.

Identity Fraud Report 2025 shows a 21% increase in fraud attempts and unveils new industry-specific threats and global fraud trends.

New York, Nov 13, 2024 -- Veriff, a global identity verification and authentication platform, offers some early findings from its 2025 Identity Fraud Report. It shows a 21% increase in fraud attempts and unveils new industry-specific threats and global fraud trends.

Veriff CEO Kaarel Kotkas Reveals Early Insights into Company's Annual Identity Fraud Report during Web Summit Session

Raul Liive

Aadhaar Verification by Veriff is an IDV solution that leverages the biometric and demographic data from India’s national digital identity system Aadhaar. India Aadhaar is a 12-digit unique identity number issued by the Unique Identification Authority of India (UIDAI), to residents of India serving as proof of identity and address across the country. 

“Organizations must verify their users’ identities from all over the world and using many different identity documents. While Veriff already supports identity documents in India, Aadhaar Verification adds an extra layer of affirmation that utilizes the Aadhaar biometric registry, a trusted and independent data source to deliver higher assurance of identity verification. This provides better IDV flow conversion and accuracy to global companies with end-users based in India,” said Raul Liive, Staff Product Manager at Veriff.

“As India Aadhaar cards lack security features, scanning only the Aadhaar card offers low accuracy decision and is potentially more prone to fraud. Businesses need a seamless low friction and reliable means of confirming the identity of remote users in India. We extract the Aadhaar number from the document during IDV and use it to access the biometric Aadhaar database to match the user’s selfie and verify the identity,” Liive added.

With this IDV add-on, Veriff expands its connection to government databases enabling businesses to improve accuracy and enhance fraud prevention. Other databases that Veriff supports include SSN (US); INE, CURP (Mexico); CPF (Brazil); Electoral Roll, and Credit Header (UK). 

Aadhaar is one of the world's largest biometric ID systems, created to provide every individual in India with a single, unique identifier that links to their demographic (name, address, DOB, gender) and biometric (fingerprints, iris scans and person’s photo to uniquely identity to biometric data) information. As of 2023, more than 1.3 billion people (over 99% of India's adult population) have enrolled in the voluntary Aadhaar program.

Aadhaar Verification uses the Aadhaar biometric registry, a trusted and independent data source, to deliver higher assurance identity verification and improve conversion for global businesses with a customer base in India.

New York, Oct 28, 2024 -- Veriff, a global identity verification and authentication platform, is launching Aadhaar Verification as an add-on to identity verification (IDV) product. Aadhaar is a governmental proof of identity in India.

Veriff, a global identity verification and authentication platform, is launching Aadhaar Verification as an add-on to identity verification (IDV) product. Aadhaar is a governmental proof of identity in India.

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Ott Kaukver, Former Twilio CTO, Joins Veriff’s Board of Directors

MoneyLIVE London 2025: Unpacking the future of digital identity & AI in financial services

Online Fraud is Surging, AI is the Weapon of Choice, Says Veriff's New Report

Veriff Secures Spot in Chartis Financial Crime and Compliance 50

Veriff Boosts Growth for Startups and SMBs with Streamlined Identity Verification via Zapier

Veriff Boosts Growth for Startups and SMBs with Streamlined Identity Verification via Zapier

Veriff Recognized as a Luminary in Biometric Digital Identity Flagship Prism Report 2024 by Acuity Market Intelligence

Veriff Achieves Exceptional Growth in 2024 Driven By New Customers and Product Expansion

Veriff 2025 Identity Fraud Report: Online Fraud is Up by 21%

Synthetic identity fraud as an emerging threat: insights from Veriff at MoneyLIVE Payments Amsterdam 2024

Veriff CEO Kaarel Kotkas Reveals Early Insights into Company's Annual Identity Fraud Report during Web Summit Session

Veriff launches Aadhaar Verification as an IDV add-on

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Back to Library

Ott Kaukver, Former Twilio CTO, Joins Veriff’s Board of Directors

MoneyLIVE London 2025: Unpacking the future of digital identity & AI in financial services

Online Fraud is Surging, AI is the Weapon of Choice, Says Veriff's New Report

Veriff Secures Spot in Chartis Financial Crime and Compliance 50

Veriff Boosts Growth for Startups and SMBs with Streamlined Identity Verification via Zapier

Veriff Boosts Growth for Startups and SMBs with Streamlined Identity Verification via Zapier

Veriff Recognized as a Luminary in Biometric Digital Identity Flagship Prism Report 2024 by Acuity Market Intelligence

Veriff Achieves Exceptional Growth in 2024 Driven By New Customers and Product Expansion

Veriff 2025 Identity Fraud Report: Online Fraud is Up by 21%

Synthetic identity fraud as an emerging threat: insights from Veriff at MoneyLIVE Payments Amsterdam 2024

Veriff CEO Kaarel Kotkas Reveals Early Insights into Company's Annual Identity Fraud Report during Web Summit Session

Veriff launches Aadhaar Verification as an IDV add-on

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