Amid a sharp rise in fraud across Europe, fuelled by the rapid digitalisation of processes and the accelerating use of artificial intelligence, Finovox, a European leader in document fraud detection, has announced its expansion into the United Kingdom. This move marks the latest step in the company’s European growth strategy, building on its established presence in France, Luxembourg, Belgium, and Spain.
Fraud becoming increasingly entrenched in the UK
According to a European study of 8,000 respondents across eight countries, conducted by Finovox in partnership with Selvitys, fraud is now widely perceived as easier to commit, less risky, and more prevalent than ever.
The United Kingdom ranks third among European countries most affected, with 11% of respondents admitting to having falsified a document, behind Germany (14%) and France (13%). Notably, more than eight in ten of those individuals report having succeeded, underscoring the growing perception that fraud is both accessible and achievable.
In the United Kingdom, fraud is most concentrated in the banking sector, which accounts for 34% of reported cases, on par with levels observed in Germany. Perpetrators most frequently cite time-saving as their primary motivation, identified by 41% of respondents, compared with 34% in France. Financial pressures also play a significant role, referenced by 25% of UK respondents, slightly below France (27%) and well behind Spain (36%).
The UK also stands out for the advanced digitalisation of fraudulent practices. Nearly a quarter of respondents (24%) report using generative AI tools to facilitate fraud—more than double the rate observed in France (10%)—highlighting the growing sophistication of fraud techniques in the market.
Whilst 78% of UK respondents say they regret their actions, 56% report feeling little to no fear of consequences, and 37% declare that they would be willing to do it again. This paradox highlights a limited perception of risk. By contrast, among those who have never committed fraud, 95% say they fear the consequences, but specify that if they were to do so, they would prefer to act online.
A major trust challenge for organisations
These findings highlight the key challenge of tackling increasingly industrialised fraud whilst maintaining smooth and user-friendly experiences. The perception that fraud is “easy” and low-risk also contributes to undermining trust in economic and digital systems.
In this context, Finovox is deploying its AI-based document fraud detection technology to support UK organisations in securing their procedures. This solution analyses the authenticity and consistency of documents in a matter of seconds to identify falsifications, including those invisible to the human eye.
Marc de Beaucorps, co-founder and CEO of Finovox, concludes: “Document fraud now represents a significant cost for UK businesses and, more broadly, for the economy. As fraud becomes increasingly sophisticated and facilitated by artificial intelligence, organisations still lack the right tools to respond effectively. At Finovox, our ambition is to protect companies and organisations against this growing risk by providing technology capable of detecting fraud quickly and reliably.”
