2023 State of Omnichannel Fraud

The number of digital transactions have skyrocketed compared to before the COVID-19 pandemic began. Unfortunately, so has the volume of digital fraud; rising 80% from 2019 to 2022. In the TransUnion 2023 State of Omnichannel Fraud Report, we share this and other key trends, along with effective strategies for enabling trusted commerce in a digital world and beyond. Discover more valuable takeaways in this video.

Full transcript below

Digital transactions have skyrocketed compared to before the COVID-19 pandemic began. Unfortunately, so has the volume of fraud. In the TransUnion 2023 State of Omnichannel fraud report we share this and other key trends, along with strategies for enabling trusted commerce in a digital world and beyond.

Let's dive in.

Our analysis found digital growth is driving risk exposure based on proprietary insights from TransUnion's global intelligence network there was an 80% increase in digital transactions, resulting in suspected digital fraud attempts growing by 80% globally from 2019 to 2022.

With 4.6% of global digital transactions being potentially fraudulent in 2022.

Another key takeaway from this study is that these bad actors have increasing access to consumer identity information and are finding new ways to weaponize them. In fact, we documented an 83% increase in publicly reported data breaches in the U.S. from 2020 to 2022. And once fraudsters have information from a data breach, they're using them to create synthetic identities. TransUnion found $4.6 billion in outstanding balances have been attributed to suspected synthetic identities for U.S. auto loans, credit cards, retail credit cards and unsecured personal loans in 2022. This is the highest-level TransUnion has ever recorded.

The final key takeaway is as fraudster tactics evolved, it became clear they were exploiting all channels of which call centers are one. We documented, despite non fixed VoIP phones, a phone number not associated with a physical address, only accounting for 3% of calls in the U.S.

call centers they made up 62% of high-risk calls into them in 2022. Additionally, 52% of consumers said they were targeted with online email, phone call or text messaging fraud attempts from September to December 2022.

With such an omnichannel focus on business winning organizations across markets will implement smarter fraud prevention strategies that build consumer trust. They will be the brands that can successfully give customers the confidence to transact across channels while maintaining convenience at every stage of the customer journey.

For even more insights and recommendations for preventing fraud and streamlining consumer experiences to deliver better business outcomes, visit

TransUnion.com/omnichannel-fraud-report.