Suspected fraud attempt rates for no intent to pay stood at 4% in 2022, making it one of the most prolific types of financial crime to impact organisations in recent years.
Despite this, no intent to pay is still widely considered to be a hard-to-reach issue. With no real ownership over who’s responsible for remedying these crimes, resulting losses are often written off as credit risk as many businesses fail to diagnose or learn from this growing problem.
Our 2023 State of Omnichannel Fraud Report explores these issues and provides insights and recommendations for implementing smarter, more effective fraud prevention strategies that build consumer trust by demonstrating safety in omnichannel customer experiences.
Practical steps businesses can take to counter data breach threats that fuel fraud