Growth in digital transactions is driving fraud risk exposure
- 4.6% of global digital transactions were potentially fraudulent in 2022
- 80% increase in digital transactions resulted in 80% growth in suspected digital fraud attempts globally from 2019 to 2022
Stolen identifiers are being weaponized to commit increasingly sophisticated fraud
- 83% increase in publicly reported data breaches in the US from 2020 to 2022
- $4.6 billion outstanding balances attributed to suspected synthetic identities for US auto loans, credit cards, retail credit cards and unsecured personal loans (highest level ever and a 27% increase since 2020)
Fraudsters are using every available digital channel to access consumer accounts
- 62% of high-risk phone calls into US call centers were from non-fixed VoIP phone lines in 2022
- 52% of consumers said they were targeted with online, email, phone call or text messaging fraud attempts from Sept. to Dec. 2022
