Organizations are facing a perfect storm of evolving fraud threats and consumers’ rising expectations for superior digital experiences.
Our Global Digital Fraud Trends report blends proprietary data from TransUnion’s global intelligence network and specially commissioned consumer research to help businesses understand how to navigate a rapidly changing landscape. It documents suspected spikes in types of cybercrime across industries in 2021, and provides insights into consumers’ expectations for digital experiences and attitudes toward fraud across both regions and generations.
Key findings in the report include:
- Fraud increases as economic activity evolves: Suspected digital fraud increased 52.2% between 2019 and 2021 — with travel and leisure, financial services and gaming suffering the largest increases
- Digital experience expectations accelerate: 62% of consumers told us they’d switch companies for a better digital experience — with Gen Z and Millennials more likely to switch
- Building trust in digital channels is essential to the customer relationship: 63% of consumers indicated they would not return to a website if they had fraud concerns