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New Study from Bureau reveals Escalation of Digital Fraud in India drives businesses to invest USD 7.6B to stop Financially-motivated Fraudsters

May 17, 2023

San Francisco [US]/ Bangalore (Karnataka) [India], May 17 (ANI/PRNewswire): Bureau, a no-code decisioning platform that delivers accurate conclusions about the trustworthiness of digital identities, today unveiled results of a first-of-its-kind study titled: 'The Anatomy of Fraud 2023'. The Anatomy of Fraud provides insights on the size of and drivers behind digital fraud in India and Southeast Asia against a backdrop of the global Digital Economy. Indian businesses get serious about curbing digital fraud by increasing investments 400%+ over 2022 figures. Quest is on to protect Indian consumers from online account takeovers, fake account registrations using synthetic identities, and transaction fraud. Banking, Financial Services, and Insurance segments are high-value targets and make up 70%+ of anti-fraud investment; followed by e-commerce at ~24%. ~55% of Payment Fraud are UPI-related.