Fraud

As you may have noticed, this is a topic we just couldn’t ignore. Thanks to the cryptocurrency market becoming, for better or worse, the latest media darling, the term “blockchain” seems to be on everybody’s lips. By itself, blockchain technology is a collective term that combines both the database (databases) containing information about owners and a number of technologies, such as blockchain (chain of transaction blocks) and distributed ledger technology. It is this sphere that receives the most attention, and the hype is deserved at the moment.

There is clearly a fraud problem in our industry. Over the past year, the level of technical fraud in has increased by a staggering 80%. What’s more, among new applications that have been on the market for more than three years, an average of 4-6% have fallen prey to fraud (and throw in another 10-20% among online lenders that have appeared in the past 12 months).