Our latest research reveals how challenges in fraud and financial crime are evolving and how businesses are keeping pace
The 2024 Experian Annual Fraud and FinCrime report delves into the views of over 2000 consumers, and 200 UK businesses to determine how fraud is changing and how business priorities are shifting in response to emerging threats.
We discover how businesses are rising to meet consumer expectations in the face of escalating fraud. We reveal critical insights into the latest fraud trends, the technologies shaping fraud prevention, and the strategies that are keeping businesses secure. Learn how you can stay ahead of fraudsters, protect your customers, and enhance your digital security.
Download the report now to equip your organisation with the knowledge and tools needed to thrive in a rapidly evolving landscape.
In this year's report, we cover:
How are businesses meeting consumer expectations?
Particularly amid rising fraud losses
Spotlight on money mules
Worry among the aware
Money laundering losses on the rise
Are businesses doing enough?
AI-powered protection
The investment imperative for businesses
A sneak peek into:
UK Fraud and FinCrime Report 2024: Trends in the intensifying fight against fraud and financial crime
How are businesses meeting consumer expectations amid rising fraud losses?
Seven out of ten businesses anticipate their fraud management budgets will grow in 2024 as they fight the rise in fraud losses over recent years. This rise in budgets is, in part, due to the continuing pressure from consumers to ensure companies protect them online and provide a secure digital journey.
The most common fraud types encountered by organisations in 2023 were:
Market context: consumer confidence and business stress
Consumers in the UK are growing more confident online with each passing year. Comparing early 2024 with just 2 years prior, we can see:
- Use of mobile wallets has surged from 54% up to 77%
- Retail apps are today used by 76% of consumers compared with a mere 36% in 2022
- More than eight in ten shoppers have embraced peer-to-peer (P2P) payment apps
Did you enjoy the read?
Download the full UK Fraud and FinCrime Report 2024
Understand how business priorities are changing and how to keep up with customer expectation in preventing fraud.
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