Digital Identity Risk Accelerates Fraud Losses

Spain's suspected digital fraud rate declined to 2.8% in H1 2025, down from 4.6% in H1 2023.

The suspected digital fraud rate in the UK dropped to 1.8% in H1 2025, down from 3.3% in H1 2023.

25% of surveyed business executives in Latin America reported their companies lost the equivalent of 10% or more of their revenues in the past year.

5% of targeted UK consumers fell victim to fraud, a decrease from 6% reported late last year.

54% of UK fraud leaders ranked device reputation in their top three fraud prevention technologies, making the UK the only market surveyed to rank this technology highest.

The Communities (online dating, forums, etc.) industry's suspected fraud attempt rate globally was 8.3% in H1 2025.

India's suspected digital fraud rate was 8.4% in H1 2025, exceeding the global rate.

Financial transaction fraud remained low across all African markets, ranging from 0.2%–0.9%, significantly below the 2.7% global average.

The rate of suspected digital fraud for account creation attempts increased by 26% from H1 2024 (when the rate was 6.6%) to H1 2025.

The Telecommunications industry recorded a global suspected fraud attempt rate of 4.4% in H1 2025.

Financial services globally experienced a suspected fraud attempt rate of 3.3% in H1 2025.

Philippine business leaders reported losing the equivalent of 6.0% of their revenues to fraud, totaling 4T.

Hong Kong's suspected digital fraud rate fell to 2.7% in H1 2025, representing a 73% drop from the 10.2% rate observed in H1 2022.

64% of US business leaders indicated fraudsters increased their attacks on call centers in the past year, up from 44% in 2024.

The Communities (online dating, forums, etc.) industry in Spain had the highest suspected digital fraud rate at 9.5%.

82% of business leaders reported that every type of fraud measured stayed the same or increased in the past year, up from 75% in 2024.

The Gaming industry, including online sports betting, had a global suspected fraud attempt rate of 6.8%.

43% of business leaders ranked behavioral biometrics in their top three technologies for preventing fraud.

34% of business leaders globally utilized usernames and passwords as the primary method of customer authentication, a decrease of five percentage points from 2024.

56% of Filipino business leaders ranked identity verification as the most effective technology for preventing fraud.

Hong Kong business leaders claimed their companies lost the equivalent of 7.1% of their revenues to fraud in the past year, representing HK$92 billion.

13% of targeted consumers in India fell victim to fraud, a number higher than the 9% global average.

83% of African countries analyzed reported money/gift card scams as the most common fraud type experienced by targeted consumers.

8.3% of all digital account creation attempts globally were suspected of fraud in H1 2025, making account creation the highest risk stage in the consumer lifecycle.

UK fraud leaders reported losing the equivalent of 7.4% of revenue to fraud, totaling £88 billion, which is an increase from 5.7% in 2024.

Kenya's suspected digital fraud rate was 2.6% in H1 2025, the highest rate among analyzed African countries, yet lower than the 3.8% global rate.

Botswana and Zambia both reached a low suspected digital fraud rate of 1.0% in H1 2025, signaling steep progress in fraud mitigation.

Zambia reported the highest rate of suspected digital fraud during account creation attempts at 11.5%, exceeding the 8.3% global average.

More than half (53%) of business leaders globally ranked identity verification in their top three technologies for preventing fraud.

Nearly two-thirds (65%) of consumers in the Philippines reported being targeted by fraud schemes, one of the highest rates globally.

The rate of suspected digital fraud globally fell to 3.8% in H1 2025, down from 4.8% in H1 2024 and 5.0% in H1 2023.

Digital account takeover volume saw a 141% uptick between H1 2021 and H1 2025.

34% of business leaders globally reported using biometrics as the primary method of customer authentication, an increase of five percentage points from 2024.

The suspected digital fraud rate for global account login attempts was 4.3% in H1 2025.

Global suspected digital fraud attempts for financial transactions represented 2.7% of transactions in H1 2025.

The volume of digital account takeover increased by 21% from H1 2024 to H1 2025.

Canada's overall suspected digital fraud rate was 4.2% in H1 2025, a decline from 5.4% in H1 2024.

Indian business leaders claimed their companies lost the equivalent of 8.4% of their revenues to fraud in the past year, totaling 12T, which is higher than the 7.7% global average.

43% of business leaders ranked IP intelligence in their top three technologies for preventing fraud.

48% of business leaders globally ranked device reputation as one of their top three most effective technologies for fraud prevention.

Scammer/solicitation was the top type of digital fraud, representing 1.84% of all suspected digital fraud types reported globally in H1 2025.

Scammer/solicitation fraud grew the most since H1 2021, increasing by 184%.

26% of Canadian business leaders attributed fraud losses to synthetic identity fraud, an increase of eight percentage points year over year.

Total lender exposure to suspected synthetic identities for US auto loans, credit cards, and unsecured personal loans was USD$2.7 billion at the end of H1 2025.

One-time passcodes remained the most popular second factor, utilized by 33% of business leaders globally, down from 35% in 2024.

The reported usage of third-party authenticator apps as a secondary authentication method increased to 19% in 2025, up from 16% in 2024.

The Retail sector in Hong Kong experienced the highest rate of suspected digital fraud, reaching 19.4%.

Surveyed business leaders globally lost an average of 7.7% of equivalent annual revenue to fraud in the last year, which is an increase from 6.5% in 2024.

Total equivalent fraud losses among the 1,200 business leaders surveyed in 2025 reached USD$534 billion.

Business leaders claimed their companies experienced an 18% increase in fraud losses during the last year.

Nearly a quarter (24%) of business leaders cited scam/authorized fraud as the greatest source of fraud loss.

Account takeover was reported as the greatest source of fraud loss by 20% of business leaders.

Synthetic identity fraud was reported as the greatest source of fraud loss by another 20% of business leaders.

First-party fraud was cited as a prominent cause of fraud loss by 16% of business leaders.

Third-party fraud was cited as a prominent cause of fraud loss by 16% of business leaders.

The video gaming industry experienced the highest suspected digital fraud attempt rate globally in H1 2025 at 13.5%.

Suspected digital fraud volume for the video gaming industry increased by 3% from H1 2024 to H1 2025.

Globally, 9% of targeted consumers reported they fell victim to the fraud schemes.

Nearly two in five consumers (39%) globally reported being targeted by an email, online, phone call, or text messaging fraud scheme between February and May 2025.

52% of the global population surveyed reported they were unaware of being targeted by fraud schemes.

Among targeted consumers globally, the leading type of fraud reported was smishing (36%).

5% of digital account creation attempts from Latin American countries were suspected to be digital fraud in H1 2025.

Vishing was reported by 33% of targeted consumers as a leading type of fraud experienced.

Phishing was reported by 34% of targeted consumers as a leading type of fraud experienced.

US business leaders reported an average equivalent revenue loss of 9.8% due to fraud, a 46% increase from 2024, equating to USD$114 billion in total losses.

Canadian business leaders lost an equivalent of 7.2% of revenue to fraud, totaling CAD$111 billion, which is an increase from 6.2% in 2024.

31% of US business leaders cited Account Takeover as the most prominent cause of fraud loss.

Full Social Security numbers were exposed in 77% of US data breaches in H1 2025, marking an 8% increase over H1 2024 and an all-time high.

Account login was the highest risk stage in Canada, with a suspected digital fraud rate of 13.0%.

Account creation was the highest risk stage in the US, with 4.2% of attempts suspected of digital fraud.

The Telecommunications industry in the US saw the highest industry/stage fraud rate, with 37.8% of account creation transactions suspected of digital fraud.

The US Communities (online dating, forums, etc.) industry experienced the highest overall suspected fraud rate at 13.7%, driven by a 139% volume increase from H1 2022 to H1 2025.

The US suspected digital fraud rate fell to 3.5% in H1 2025 after spiking at 4.5% in H1 2024.

The suspected digital fraud rate for account logins in Hong Kong was 10.8%, more than two times higher than the global average.

The Communities (online dating, forums, etc.) industry in the UK had the highest suspected digital fraud rate at 10.0%.

34% of consumers in the surveyed Latin American countries reported being targeted by email, online, phone call, or text messaging fraud from February to May 2025.

Vishing was the most cited fraud scheme in the region, reported by 34% of targeted consumers in Latin America.

There was an 11% increase in the rate of suspected digital fraud for financial transaction attempts in analyzed Latin American countries between H1 2024 and H1 2025.

The Dominican Republic reported a suspected digital fraud rate of 8.6% in H1 2025, the highest among analyzed Latin American countries.

The Dominican Republic had the highest account creation fraud risk in the region at 14.2%.

For transactions in the Dominican Republic, the financial services sector reported the highest suspected fraud rate at 18.2%.

For transactions where the consumer was in Kenya, the Gaming sector saw the highest rate of suspected digital fraud at 10.4%

The suspected digital fraud rate in South Africa dropped from 4.3% in H1 2022 to 2.1% in H1 2025.

7% of targeted Spanish consumers fell victim to fraud, down from 10% reported late last year.

63.1% of non-fixed Voice over Internet Protocol (VoIP) calls, representing 3.3% of total volume, were identified as high risk for fraud in H1 2025.