SAS Fraud Consumer Study Reveals Two-thirds of Consumers will Switch Providers for Better Safeguards

DRothfuss — Thu, 09 Nov 2023 14:18:27 GMT

Rampant fraud is reshaping individuals’ expectations about organizations’ obligations to protect them – and the compromises they are willing to make to enhance security. SAS recently completed a survey of 13,500 consumers in 16 countries, Faces of Fraud: Consumer Experiences with Fraud and What It Means for Businesses reveals the immensity of the global fraud problem.

Most consumers (70%) reported having experienced fraud at least once. Four in 10 indicated they have fallen victim to fraud twice or more.
Nearly half (47%) said they experienced more fraud in 2022 compared to previously.
Almost nine in 10 (86%) admitted to being more wary of fraud than in the past.

The most common fraud strategies reported by survey respondents were attempts to obtain banking details or personal data. Mobile phones and email emerged as the communications channels most often used by fraudsters to make initial contact.

Click on the links below for more survey findings and thougts!

Faces of Fraud E-Book

Faces of Fraud Infographic

Faces of Fraud Interactive Dashboard

topic SAS Fraud Consumer Study Reveals Two-thirds of Consumers will Switch Providers for Better Safeguards in Fraud, AML and Security Intelligence

SAS Fraud Consumer Study Reveals Two-thirds of Consumers will Switch Providers for Better Safeguards