Market Guide for Identity Verification
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Global Consumer Research
Now in its third year, the annual Jumio Online Identity Consumer Study explores consumer awareness and sentiment around issues involving online identity, fraud risks, and current methods used to protect consumer identity data.
This year’s results highlight significant concerns among consumers about the risks associated with generative AI and deepfakes, including the potential for increased cybercrime and identity fraud. The study demonstrates the pressing need to ensure that users are genuine.
Three-quarters of consumers worry daily about being fooled by a deepfake into handing over sensitive information or money.
A significant majority of consumers call for more governmental regulation of AI to address the issues around deepfakes and generative AI. However, regulatory trust varies globally.
Even with high anxiety around this increasingly prevalent and ever-evolving technology, consumers continue to overestimate their own ability to spot deepfakes — 60% believe they could detect a deepfake, up from 52% in 2023.
Men were more confident in their ability to spot a deepfake (66% men versus 55% women).
Fraud is an all-too-familiar issue for many consumers across the globe, with 68%* of respondents reporting that they know or suspect that they’ve been a victim of online fraud or identity theft, or that they know someone who has been affected.
One-third (32%*) of consumers who were or suspected they were a victim of online fraud said it caused significant problems and several hours of administrative work to resolve, and 14%* went as far as calling it a traumatic experience.
More than 70% of consumers said they’d spend more time on identity verification if those measures improved security in industries including financial services (77%), healthcare (74%), government (72%), retail and ecommerce (72%), social media (71%), the sharing economy (71%), and travel and hospitality (71%).
When creating a new online account, global consumers said taking a picture of their ID and a live selfie would be the most accurate form of identity verification (21%*), with creating a secure password coming in at a close second (19%*).
Regardless of whether they’ve been a victim of fraud or identity theft, most consumers worry daily about falling victim to data breaches and account takeover attacks.
*All data points presented on this page reflect net figures unless indicated with an asterisk (*).
The majority of consumers are ready to switch banks over inadequate fraud protection. They believe banking services providers are ultimately responsible for protecting customers — and compensating fraud victims.
As the technology used by fraudsters becomes more sophisticated, the tools to prevent and detect scams must evolve as well.
With more than 50 countries holding national elections in 2024, Jumio investigated consumer perception of deepfakes and how they might influence trust in online media.
The data also reveals a changing relationship between the public and online media.
“Compared to the last election, I will be more skeptical of the political content I see online.”
“I trust political news that I see online, despite the possibility of encountering audio/video/image deepfakes.”
Only one in three Britons think they could easily spot a deepfake of a politician, while three out of five Singaporeans think they could:
This confidence generally wanes by age group, with only 22% of Americans age 55 or older trusting their ability to spot a deepfaked politician.
U.S. results by age group:
3 Key Findings from Jumio’s 2024 Online Identity Consumer Study
75% of consumers would switch banks if it came to light that fraud protection measures were not strong enough.
72% of consumers worry about being fooled by a deepfake
79% of consumers worry about online data breaches, 77% worry about their accounts being hacked
Global survey shows 83% of Singapore consumers worry deepfakes will influence next election
Global survey shows 72% of Americans worry deepfakes will influence upcoming elections
Global survey finds 75% of consumers ready to switch banks over inadequate fraud protection
Global survey shows 72% of consumers worry about being fooled by deepfakes on daily basis
Una encuesta global muestra que 89% de los consumidores mexicanos se preocupan por ser engañados diariamente por deepfakes
2023 Online Identity Consumer Study
Digital Identity in 2022