Crypto is responsible for the most fraud committed through biometrics in Africa.
Biometrics system exposes Africans to cyber thieves. Using a fingerprint scanner or mobile ID has caused a lot of lost money in various industries.
There is potential for biometrics to prevent fraud, and improve data security, yet several fraud attempts are going on across industries. Crypto transactions saw the highest rate with 15%, while payments and remittances using biometrics had a 13% fraud rate each.
Biometrics fraud rate in the banking & lending industry, likewise professional services also had a large share rate of 10% each, while investment & saving services has 9%.