As the Indian economy continues its growth, the rise in digital fraud is becoming a concerning challenge for businesses. To tackle this issue head-on, smart businesses on India are gearing up to invest a substantial US$ 7.6 billion in fraud detection and prevention solutions over the next four years.

In recent times, fraudsters have launched sophisticated attacks on sign-up and log-in touchpoints, causing significant financial damage and reputational challenges for businesses. Those who heavily rely on their online experience must prioritize deploying robust fraud detection and prevention solutions to protect these touchpoints and avert fraud at the point of transaction.

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Key reading points:

  • Fake account registrations and unauthorized logins pose significant challenges for digital businesses, causing substantial financial losses.
  • Fraudulent activities have skyrocketed in recent years, causing massive losses to businesses. It is estimated that banking fraud in India causes losses worth USD 12M every day.
  • Traditional fraud defense solutions and reliance on internal data may not be enough to combat evolving threats. Businesses need innovative platforms that integrate risk management, compliance, and fraud detection and prevention solutions to safeguard operations and deliver seamless digital consumer experiences.

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