Business News | 62% of Indian Businesses Report Rise in Fraud Attacks: Report
Get latest articles and stories on Business at LatestLY. About 62 per cent of Indian businesses have reported an increase in overall fraud attacks, with account takeover emerging as the most widespread growing threat, according to an Experian report.
New Delhi [India], August 25 (ANI): About 62 per cent of Indian businesses have reported an increase in overall fraud attacks, with account takeover emerging as the most widespread growing threat, according to an Experian report.
The report, The New Frontier: Emerging Trends in Fraud Prevention, draws on an Experian research study conducted in partnership with Forrester Consulting in 2025, which surveyed "109 senior fraud decision-makers in India".
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"Fraud is not only becoming more prevalent, but also more costly for organisations," the report said, adding that 66 per cent of organisations indicated that their fraud-related losses were rising year-on-year.
Among different types of fraud, account takeover recorded the most widespread increase, with 77 per cent of respondents reporting a rise in such attacks. Money muling and identity theft followed, with 71 per cent of respondents reporting an increase in each, while synthetic business fraud and first-party fraud stood at 70 per cent each.
"Account takeover emerges as the most widespread threat, with 77% of respondents reporting an increase, indicating growing vulnerability in digital access and authentication layers," the report said.
It said the rise in money muling and identity theft reflected "the rise of organised, network-driven fraud that leverages both stolen identities and intermediary accounts."
Authorised Push Payment (APP) fraud was identified as the most difficult type to detect and prevent, with 58 per cent of organisations finding it challenging to manage. Identity theft was challenging for 54 per cent, while money mule activity stood at 53 per cent. First-party fraud, synthetic business accounts and deepfakes were each considered challenging by around 52 per cent of respondents.
The study also pointed to gaps in the ability of organisations to respond quickly to changing fraud tactics. About 48 per cent cited difficulty in rapidly updating fraud models, rules and scores, while 47 per cent pointed to a lack of device data and 44 per cent to a lack of real-time transaction monitoring.
"Agility is the biggest challenge, with 48% of organisations struggling to rapidly update fraud models and rules, highlighting the gap between evolving fraud tactics and current response capabilities," the report said.
The report also noted financial institutions would increasingly need to move beyond traditional rules-based systems and use behavioural information, alternative data and advanced analytics to identify emerging risks.
"Fraud prevention is undergoing a fundamental shift--from static, rules-based controls to adaptive, data-driven, and network-aware strategies," the report said. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)