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It’s International Fraud Awareness Week. Now’s the time to shed light on a stat that highlights exactly why this week is so important. The world’s largest anti-fraud organization, the Association of Certified Fraud Examiners (ACFE), reported that fraud costs organizations approximately $5 trillion worldwide each year. $5 trillion is an unacceptable number. So what can be done about it? There are many different defense methods, but one worth highlighting is ongoing identity monitoring. This helps with ensuring continuous customer data verification and updates, inevitably helping both users and businesses in the long run. Fraud is a global challenge. Staying informed and vigilant is imperative so that this $5 trillion doesn’t climb even higher.

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