Experian’s 2022 Future of Fraud Forecast

by Guest Contributor 2 min read January 20, 2022

With consumers continuing to take a digital-first approach to everything from shopping to dating and investing, fraudsters are finding new and innovative ways to commit fraud. To help businesses anticipate and prepare for the road ahead, we created the 2022 Future of Fraud Forecast.

Here are the fraud trends we expect to see over the coming year:

  • Buy Now, Pay Never: Buy now, pay later lenders will see an uptick in identity theft and synthetic identity fraud.
  • Beware of Cryptocurrency Scams: Fraudsters will set up cryptocurrency accounts to extract, store and funnel stolen funds, such as the billions of stimulus dollars swindled by criminals.
  • Double the Trouble for Ransomware Attacks: Fraudsters will not only ask for a hefty ransom to cede control back to the companies they’ve hacked but also steal and leverage data from the hacked company.
  • Love, Actually?: Romance scams will continue to see an uptick, with fraudsters asking victims for money or loans to cover fabricated travel costs, medical expenses and more.
  • Digital Elder Abuse Will Rise: Older consumers and other vulnerable digital newbies will be hit with social engineering and account takeover fraud.

“Businesses and consumers need to be aware of the creativity and agility that fraudsters are using today, especially in our digital-first world,” said Kathleen Peters, Chief Innovation Officer at Experian Decision Analytics in North America. “Experian continues to leverage data and advanced analytics to develop innovative solutions to help businesses prevent fraudulent behavior and protect consumers.”

To learn more about how to protect your business and customers from rising fraud trends, download the Future of Fraud Forecast and check out Experian’s fraud prevention solutions.

Future of Fraud Forecast Read Press Release

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