Fraudsters seek new ways to exploit private information. Cybercrime and fraud prevention is an evolving field based on varied tactics used by fraudsters. In order to be prepared to mitigate fraud risks, you must understand the current fraud trends.

The initial segment of this series focuses on fraud trends that have been identified for 2023 and beyond. Broadly, these trends include:

• Automation
• Account Takeover
• Adoption of new digital payment methods
• Balancing fraud and consumer friction
• Rise of synthetic identities
• Escalating cost of fraud
• Targeted attacks
• Strong need for real-time assessment
• Need for multi-layered fraud assessment
• Account security

Within each succeeding segment we will focus on specific aspects to enable professionals to start adapting and integrating the trend into their business.

After we discuss the fraud trends, we will delve into the first trend that deals with automation and ML.