Digital transactions are up 80% and so is suspected fraud growth

TransUnion’s 2023 State of Omnichannel Fraud Report shows fraud attempts up globally, and increasingly sophisticated, between 2019-2022. Consistent with other surveys on consumer concerns about how businesses handle their privacy, TransUnion’s findings were that 63% of digital consumers wouldn’t return to a website if they had fraud concerns and that 48% abandoned their online shopping carts for the same reason.