78 percent of businesses across EMEA consider online fraud as the biggest challenge

Data from a new report by global information services company Experian shows that 79% of respondents believe that online fraud is set to considerable increase in five years’ time. Results indicate that account takeover fraud is currently experienced by 47% of telecoms and financial services organizations and 71% of respondents state that it will become a more serious issue across EMEA during the next five years.

Research also unveils that identity theft, which is currently a major issue for 24% of businesses in EMEA, is expected to double in the next five years and become a serious concern for 48% of businesses.

Many organisations are struggling to reach a balance between stringent fraud control and a satisfying user experience. Three in four organisations see fraud integration across internal systems as an issue that urgently needs addressing now, while nearly four in five believe it will still be a major issue in five years’ time.

The study, dubbed Experian Decisioning Vision 2020 (DV2020) EMEA, is based on a sample of 255 key decision makers from 195 telecoms and financial services organisations in eight regions across Europe, the Middle East and Africa (EMEA).