True Cost of Fraud™ Study, Asia Pacific

Balancing strong fraud prevention and seamless customer experiences is becoming more complex for businesses and financial institutions in the Asia Pacific region. Rapid adoption of digitalization, rising risk volatility and multiplying cybercrime attack vectors are impacting every stage of the customer journey and raising the true cost of fraud.

Download our True Cost of Fraud™ Study for Asia Pacific to learn the latest statistics:

• 52% of organizations surveyed reported a rise in fraud over the last 12 months
• Organizations are incurring fraud costs ranging from 3.07 times to 4.59 times the actual value lost to fraudsters
• Digital channels account for 51% of overall fraud losses in the APAC region
• 34% is the share of fraud traced back to new payment methods such as digital wallets, payment apps, crypto, Buy Now, Pay Later and more
• 75% of organizations report a decline in customer conversion rates tied to increased verification checks

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In the APAC region, Australia leads with 95% of organizations investing in a diverse array of fraud solutions spanning 6-9 types across various customer journey stages.

Following closely behind is India, with 93% of organizations also adopting this broad approach to tackling fraud.

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Delivering secure and personalized customer experiences while effectively preventing fraud losses means understanding fraud from a multi-faceted perspective encompassing physical identity, digital identity and transaction risks. The True Cost of Fraud™ study highlights key recommendations to inform a multi-layered, data-driven fraud management approach that stays ahead of evolving digital demands and the increasingly diverse channels for customers to transact and pay.

Learn the latest strategies to help prevent the increasing fraud costs from impacting critical performance outcomes. Download the True Cost of Fraud™ Study, Asia Pacific now.