LexisNexis Risk Solutions released the results of its first Global State of Fraud and Identity Report, exploring research and insights from industry experts “on recent statistics and trends from [their] industry-recognized studies on the Global True Cost of Fraud and transaction data from over 39B transactions from the LexisNexis Digital Identity Network® from January 2022 to June 2022.”
The report demonstrates “how digital transactions dominated the global marketplace as the pandemic-driven trend of consumers migrating to online interactions became commonplace behavior.” Digital transactions in the LexisNexis Digital Identity Network “rose by 37% YoY for the period.”
Pandemic-driven digital transaction growth “continued to attract fraud attacks, with global businesses recording a 32% jump in the human-initiated attack rate over the past 12 months, while high-velocity automated bot attacks were up 38% YoY.”