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TransUnion recently released their quarterly fraud analysis report for Q1 2022, and it showed that global fraud decreased globally by 22.6% from Q1 2021. However, while some industries saw strong downward fraud trends, there are still several industries that have experienced a dramatic increase in fraud.
"Sophisticated fraudsters pressure test which industries have ramped up fraud prevention measures and as a result, turn to new industries if efforts are being thwarted. That's exactly what we have observed recently as fraudsters look for new opportunities or points of vulnerability," Shai Cohen, senior vice president of global fraud solutions at TransUnion, said in a release about the report. "It is paramount that during this dip companies focus on optimizing the customer experience for good customers."
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
