2024 State of Omnichannel Fraud Report

Global digital transaction growth following the pandemic pushed fraud to new heights in 2023. Identity-based fraud is accelerating as cybercriminals harvest more stolen identity information from organisations and individuals, driving first- and third-party fraud schemes. Knowing the identity of the person you’re dealing with should be central to every organisation’s fraud prevention and customer experience strategies.

Our 2024 State of Omnichannel Fraud Report provides trends and insights 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:

• Identity takeover fueled fraud risk:
  • 60% of Canadian consumers reported being targeted with online, email, phone call or text messaging fraud attempts from Sept. to Dec. 2023
• Digital Fraud outpaced digital transaction growth:
  • 5% of all global digital transactions were suspected Digital Fraud in 2023, with the volume of Digital Fraud increasing 14% over 2022
  • 105% growth in the volume of suspected Digital Fraud from 2019 to 2023, outpacing the 90% increase in digital transactions overall
• Account openings posed high risk across channels:
  • 13.5% of all global digital account openings were suspected Digital Fraud

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