Experian® today released its 2024 Future of Fraud Forecast, which identifies five fraud threats consumers and businesses should be cautious of this year. Today’s fraudsters are sophisticated and wi...
The annual forecast predicts five emerging fraud risks for businesses and consumers
COSTA MESA, Calif.: Experian® today released its 2024 Future of Fraud Forecast, which identifies five fraud threats consumers and businesses should be cautious of this year. Today’s fraudsters are sophisticated and will deploy the latest technology, such as generative artificial intelligence, to dupe consumers and businesses.
According to an Experian report, nearly 70% of businesses report that fraud losses have increased in recent years and over half of consumers feel they’re more of a fraud target than a year ago. To thwart fraudulent activity in 2024, businesses need to deploy more sophisticated fraud protection solutions that harness the power of data and technology to mitigate risk and protect consumers.
Experian suggests consumers and businesses watch out for these five fraud threats in 2024:
“The speed and complexity of fraud attacks due to new technology and sophisticated fraudsters is leaving both businesses and consumers at risk in 2024,” said Kathleen Peters, chief innovation officer at Experian Decision Analytics in North America. “At Experian, we’re constantly innovating to deliver data-driven solutions to help our customers fight fraud and to protect the consumers they serve. Now more than ever, businesses need to implement a multilayered approach to their identity verification and fraud prevention strategies that leverages the latest technology available.”
Last year, Experian estimates that its fraud prevention solutions helped clients save more than $12 billion in fraud losses globally. Experian’s CrossCore® helps clients verify identities, detect and prevent fraud, and meet regulatory requirements using real-time risk analytics and decision-making strategies. Precise ID® provides real-time identity verification and the ability to identify and treat specific fraud risks, including identity theft, synthetic identity and first-party fraud. Most Precise ID clients see a substantial lift in fraud detection performance compared to their legacy systems.
To learn more about Experian’s fraud prevention solutions, please visit https://www.experian.com/business/solutions/fraud-management.
About Experian
Experian is the world’s leading global information services company. During life’s big moments — from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers — we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.
We have 22,000 people operating across 32 countries and every day we’re investing in new technologies, talented people, and innovation to help all our clients maximize every opportunity. With corporate headquarters in Dublin, Ireland, we are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.
Experian and the Experian trademarks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.
Fonte: Business Wire
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