Many organizations face an upward battle when detecting and preventing fraud. Consumers continue to rapidly migrate to digital channels and while organizations are also moving towards digitizing products and services to increase profit, it all comes at a price. Where transactions occur, fraudsters follow, seeking out new vulnerabilities to exploit and make the most profit with the lowest risk.
Here are LexisNexis® Risk Solutions predictions for the top 10 trends to watch in the Fraud and Identity space as they are most likely to impact fraud budgets, customer experience and your actions in the year ahead.
Download the infographic to get more insights on each trend.
- Effects of accelerated digital transformation have pushed us forward in time by several years
- Increased automation
- Adoption of new digital payments and methods
- Increasing risk of payment fraud
- The growing prevalence of scams
- Ongoing challenge of balancing fraud and friction
- Rise of synthetic identities
- Escalating cost of fraud
- Growing need for multi-layered fraud assessment
- Heightened need for real-time risk assessment