As per 1 study there have been up to 71% of all types of fraud or identity theft where credit cards were the number one element of weakness for buyers. With this information fraudsters are able to carry out transactions on behalf of the customer and steel there payment systems this causes a trust issue within the entire network upon the moment that the customers information is breached. Omnitude really eliminates this once trust is lost in a party as its middleware utilises all nodes to verify transactions.
Check the study out here:
https://www.worldpay.com/global/insight/articles/2014-11/fragmentation-fraud-reportAccording to the United Nations from 2008 until 2000 and 10 almost 70% of all counterfeit goods that was seized by authorities were located from its source origin in China.
Omnitude will essentially be able to tackle this issue by preventing customers from being fooled into buying counterfeit goods by enabling the identity verification of both the buyer and the seller within a private or public blockchain network.