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TechFlow reported on February 11 that Sumsub's "2025 State of Crypto Report" revealed a 48% year-on-year increase in fraud rates within the crypto industry in 2024, accounting for 2.2% of all verification requests. Document forgery was the most common type of fraud, representing 31%. The report also noted that while 60% of crypto firms expect stricter regulations ahead, only 29% are currently fully compliant with the FATF Travel Rule requirements.
According to Sumsub's "2025 State of the Cryptocurrency Industry Report," cryptocurrency industry fraud rates rose 48% year-on-year in 2024, accounting for 2.2% of all verification requests. Document forgery was the most common type of fraud, making up 31%. The report also noted that while 60% of crypto firms expect stricter regulations ahead, only 29% are currently fully compliant with FATF Travel Rule requirements.
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