The findings show that the net fraud rate increased by 14.42% compared to H1 2020, showcasing how fraud continues to be on the rise despite businesses investing in systems and solutions built for prevention. Moreover, identity fraud experienced the highest YOY increase by 19%, a testament to the many fraud incidents that continue to plague businesses and individuals on a global scale.
Out of the various fraud types, recurring fraud experienced a 14% decrease YOY due to bad actors discovering new ways to commit fraud and infiltrate systems instead of continuing to use the routes in which they were previously successful.
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