Whitepaper: 2024 State of Fraud

Telesign Whitepaper: 2024 State of Fraud

2024 State of Fraud

2024 State of Fraud Management in the Fintech Landscape

Online fraud is a fast-growing and pervasive crime, especially impacting the fintech sector.

  • $8.8 Billion Lost to Fraud in 2022: In 2022 alone, fraud victims lost nearly $8.8 billion to various fraud schemes.
  • Corporate Data Breaches: 27% of global companies have suffered a data breach in the past three years, with costs ranging between $1 million and $20 million USD.
  • Widespread Data Exposure: Over 422 million people were affected by data breaches, leaks of Personally Identifiable Information (PII), or exposure in 2022.
  • Generative AI Threats: Tools like ChatGPT enable fraudsters to create highly convincing phishing lures using deepfake video, audio, or written forms.

Fortunately, advances in fraud protection make it fast and easy to flag and block potential fraud without adding friction to the customer experience. Now you can reduce buyer friction as well as fraud, all while protecting your brand and building consumer trust.

Download the whitepaper to discover modern approaches to fraud protection.