Globally in 2022, 4.6% of digital transactions were potentially fraudulent, returning to pre-pandemic levels. That said, with increased digital transaction volumes, the risks faced by organisations and individuals are greater than ever before.
Our 2023 State of Omnichannel Fraud Report provides insights and recommendations for implementing smarter, more effective fraud prevention strategies that build consumer trust by demonstrating safety in omnichannel customer experiences.
In the Africa Region, the following key trends were highlighted:
- Kenya witnessed a significant rise in suspected digital fraud: The financial services industry experienced a 309% increase since 2019, while gaming saw significant growth (up 102%) in digital fraud attempts over this period.
- Namibia’s gaming industry saw a 179% rise in suspected digital fraud since 2019; online communities and gaming rose by 41% and 17%, respectively compared to last year.
- Zambia had a slight increase in digital fraud with financial services seeing a 4% increase since 2019; communities and gaming rose by 10% and 2%, respectively compared to last year.
- Rwandan suspected digital fraud attempt transactions originating from the country declined beyond pandemic levels for every industry measured. Between 2019 and 2022, financial services and communities both showed a 17% decline, while travel & leisure and retail declined even further.