58% of Asia Pacific organizations report year-on-year increase in fraud, with digital channels causing more losses than physical ones.
Fraud in Asia Pacific has increased for 58% of organizations year-on-year, according to LexisNexis True Cost of Fraud Study. Digital channels account for more fraud losses than physical channels in the region. The annual report reveals that businesses in APAC now bear a cost of fraud 3.95 times the face value lost in fraudulent transactions. Fraud is affecting customer conversion rates for most organizations in the region.
April 28, 2024
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