Organizations potentially face substantial revenue losses and increased operational costs due to fraud. With significant levels of exposed consumer identities available to criminals, organizations need to shift their threat postures to assume consumer information is compromised. Those that build consumer trust by enhancing their omnichannel experiences with friction-right fraud detection and prevention capabilities stand to win.
In the H2 2024 Update: State of Omnichannel Fraud Report, TransUnion provides insight to those responsible for preventing fraud and securing customer experiences to deliver better business outcomes.
Cost of fraud posed significant financial risk to organizations
Fraud concern remained high for consumers and businesses
New account creation posed highest fraud risk
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