Tokenization in Fintech: What’s the significance?

Did you know that every year, organizations lose 5% of their revenue due to financial fraud? This might result in billions of dollars in fraud losses, which would be devastating for businesses and economies all across the world. Whether or not your business has been a victim of fraud, it is critical that you take actions to encourage fraud prevention and awareness. Continue reading to find out more about what you can do to safeguard your company’s critical information. What do you need to know about fraudulent activity? Before we go any further, it’s helpful to define what fraud is. After all, the better you understand fraud, the better your business and customers will be protected. Fraud is defined as when a person or group knowingly and illegally uses false or misleading information to steal another person or organization of anything of value. Money, property, sensitive data, or rights can all be involved. Small and large businesses, schools, and government agencies are all targets f...