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05/27/2025
First-Party Fraud Surges in LexisNexis Risk Solutions Report
Crowdfund Insider
The LexisNexis Risk Solutions Cybercrime Report concisely describes how fraud has evolved over the past two years. First-party fraud, for one, surged in 2024, with BNPL and financial services companies popular targets.
Fraudsters’ attack modes are also changing. In 2023, the top three types were identity theft (32.6%), third-party account takeover (24.6%) and “other” (11.2%). One year later, third-party fraud took the top spot at 30.5%, a 5.9% gain in one year. First-party fraud quadrupled from 7.6% in 2023 to 30.4% in 2024. True identity theft was third at 20.8%.
“First-party fraud schemes, including bonus abuse and chargeback abuse, are harder to detect than third-party fraud because they involve real account holder data and require analyzing customer intent,” the report states.
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