Global digital fraud trends : rising customer expectations amid evolving fraud threats

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      <subfield code="a">Fraudsters shadow consumer preferences and growth sectors -- Consumers continue to demand more from digital experiences -- Next steps: Build trust, improve CX and counter evolving fraud threats -- Conclusion</subfield>
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      <subfield code="a">The trends in this report illustrate the potential threat fraudsters pose, and highlights some of the ways digital identity solutions are likely to influence the nature of fraud risk in the future. There are, of course, new types of cybercrime just beginning to emerge. We're seeing potential new synthetic fraud risks powered by AI technology, like deepfakes and automated crime, and attempts to corrupt consumer-centric innovations, such as digital wallets and payment types. Media stories related to the boom in cryptocurrencies and NFTs, and how fraudsters are seeking opportunities for illicit gain, are a reminder that whichever direction technology and consumers take, fraudsters will follow. We're in an arms race to equip and better protect ourselves, and attempt to close loopholes fraudsters might seek to exploit. It's important to focus on the pivotal role identity can play in delivering an outstanding customer experience whilst lowering your fraud risk and unlocking new growth opportunities. But this is only possible if there's a firm foundation of trust between consumers and businesses</subfield>
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