In recent research that Plaid conducted with more than 400 lending leaders, 61% say they have experienced document fraud-making it the most significant type of fraud they’ve experienced.īut document fraud can be difficult to detect. Mitigating this risk has become more urgent than ever for financial institutions. Combine that with the fact that fake ID marketplaces and bank statement generators are only a Google (or TikTok) search away, and it’s not hard to see why cases of document fraud rose by 79% in 2022. She’s not alone: image-editing tools like Photoshop are popular among fraudsters because they make it easy to alter information on financial or identity documents like bank statements, utility bills, W-2s and more. Anna Sorokin, the so-called “fake German heiress” (perhaps better known by her alias Anna Delvey), came dangerously close to duping a hedge fund out of $25 million.Īccording to The New York Times, she intended to defraud the financial institution by creating fake bank statements in Adobe Photoshop, a task that she said took “surprisingly little time.”
