FRAUD & ID VERIFICATION
COST
2024 TOTAL ORDERS
In 2024,
3.3 % of all orders accepted by merchants were fraudulent;
US $ 5.4tn
GLOBAL LOSS It’ s estimated that fraud loss is US $ 5.4tn globally
Source: SEON
5.8 % of all orders were rejected due to suspicion of fraud
Source: The Global Fraud Report 2024
US $ 331bn by 2027
APP SCAMS
APP scams could reach a staggering US $ 331bn by 2027
Source: LSEG fintechmagazine. com 13