As International Fraud Awareness Week shines a spotlight on the escalating economic impact of fraud, one trend is unmistakable: Identity-based fraud is an urgent – and expensive – threat facing healthcare and financial services going into 2026.
In 2026, failing to upgrade your identity verification process is not an option. U.S. business leaders surveyed in the TransUnion H2 2025 Update to the Top Fraud Trends Report stated their companies lost on average nearly 10% of revenue due to fraud in the past year, a 46% increase from 2024 reports.
International Fraud Awareness Week sponsor the Association of Certified Fraud Examiners (ACFE) highlights identity misuses among the fastest-growing forms of fraud, whether through stolen credentials, synthetic identities, AI-generated deepfakes, or manipulated documents.
Too often, healthcare organizations, telemedicine providers, fintechs, and financial institutions continue relying on outdated or inconsistent identity verification methods, which can leave you exposed.
As fraud techniques continue to evolve in 2026, inaction or insufficient action in identity verification will become more expensive.
A U.S. Government Accountability Office (GAO) report notes that fraud involving synthetic identities has increased in recent years due to expanded digital systems and data breaches enabling new-identity creation. Deloitte Center for Financial Services calls synthetic identity fraud the fastest-growing financial crime in the U.S., with no signs of stopping.
Vouched CEO Peter Horadan explained to Crowdfund Insider how AI can create the problem AND be the solution: “AI is a double-edged sword. On one hand, criminals are using AI to create more convincing fake identities. They can generate deepfake images, manipulate official documents, and even create entirely synthetic identities that are difficult to detect using traditional methods. On the other hand, AI is also the best tool we have to fight back.”
What to look for in a solution: Streamline your customer journey with real-time ID examination, data extraction, and liveness detection, supporting detection of genuine user presence.
From KYC/AML updates to HIPAA and CMS telehealth requirements, federal and state regulators are taking a harder line on identity hygiene. Organizations that cannot demonstrate consistent, auditable, and effective identity verification processes will face larger penalties and more scrutiny.
When selecting an identity verification API, it’s crucial to prioritize certain factors that align with compliance and data security:
Understand these key considerations to maintain patient safety, data security, and regulatory standards. Read more in “How a Digital Verification API Enhances Patient Verification.”
Patients and financial consumers want frictionless onboarding with organizations that will keep their data safe. Businesses must deliver both without creating the kind of bottlenecks that cost revenue or push legitimate users away.
Riders Share was relying on a combination of four ID verification solutions to vet their customers, leading to an ineffective, manual, and timely process. With Vouched as part of its onboarding, the peer-to-peer motorcycle-sharing platform was able to bring on and confirm signups quicker.
Guillermo Cornejo, Co-Founder & CEO of RidersShare, Inc., said of the enhanced ID verification process “with Vouched, we’ve been able to transform our approach to customer verification and significantly enhance our security measures. By leveraging Vouched’s advanced technology, we now prevent fraudulent activities before they occur, protecting our community of motorcycle owners and renters while ensuring a seamless and secure experience for all our customers.”
Read the full case study, “How Riders Share Reduced Motorcycle Theft by $1M and Verification Time by More Than 99%.”
Forward-thinking healthcare and fintech organizations are shifting from reactive fraud management to proactive, AI-powered identity strategies. Why? Because the ROI is immediate.
Streamlined digital onboarding reduces drop-off rates. Automated identity checks catch sophisticated fraud patterns earlier. And unified verification systems reduce manual review costs, compliance effort, and operational friction. Take Vouched ID verification, for example, boosting a few quick stats:
This isn’t just fraud prevention—it’s a competitive advantage.
Fraudsters won’t slow down in 2026. Identity fraud will continue to evolve, becoming more automated, intelligent, and difficult to detect. Organizations that do not act now will face rising losses, greater compliance liability, and declining trust.
The cost of inaction is simply too high.
Now is the time to strengthen your identity verification strategy.=
Learn how Vouched helps organizations like yours stop fraud faster. Set up time with us and see a personalized solution in action.