Reopening economies and markets are reigniting opportunities for cybercrime with the global digital fraud attack rate rising 20% year-over-year (YOY) between 2021 and 2022. Industrial-scale fraudsters are striking with velocity as our back-to-business world enters a post-pandemic stage. The volume of human-initiated attacks grew 56% YOY while the volume of automated bot attacks posted a 27% YOY increase.
The digital economy continues expanding across emerging markets. New-to-digital consumers and financially vulnerable individuals make ideal targets for scams and mule schemes. Scams of all kinds – both traditional account takeover through phishing attacks and more sophisticated authorised push payment fraud – rank among the biggest global fraud challenges. Digital fraud growth is also driving a reliance on mule accounts to move and monetise fraud proceeds.
The LexisNexis® Risk Solutions Cybercrime Report 2022 highlights how today’s complex industrialised fraud landscape demands a coordinated, multi-layered response centred around customer trust and industry collaboration. The report provides the latest statistics and details on:
Take the fight to the fraudsters by starting from the advantage of customer trust and industry collaboration.
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