Global Report

2023 State of Omnichannel Fraud

Trends and strategies for enabling trusted commerce

Globally speaking in 2022, 4.6% of digital transactions were potentially fraudulent, returning to pre-pandemic levels. That said, with increased digital transaction volumes, the risks faced by organisations and individuals are greater than ever before. 

Our 2023 State of Omnichannel Fraud Report provides insights and recommendations for implementing smarter, more effective fraud prevention strategies that build consumer trust by demonstrating safety in omnichannel customer experiences. 

Omnichannel fraud trends highlighted in the report include:

  • Growth in digital transactions is driving fraud risk exposure everywhere
    • 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 since 2019
  • Fraudsters are using every available digital channel to access consumer accounts
    • 45% of Hong Kong consumers said they were targeted with online, email, phone call or text messaging fraud attempts from Sept. to Dec. 2022
  • Top fraud concerns cited by Hong Kong consumers
    • Vishing* — 58% 
    • Phishing —  53%
    • Identity theft —  49% 

*According to Cambridge Dictionary, vishing is an attempt to trick someone into giving information over the telephone that would allow someone else to take money from them, for example by taking money out of their bank account.

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