Two-thirds of consumers reveal they will switch providers for more secure experiences against frauds: Insights from a SAS study

The scam deluge that occurred during the COVID-19 pandemic and continues today has heightened the public’s fraud anxiety. Rampant frauds are reshaping individuals’ expectations about organisations’ obligations to protect them – and the changes they are willing to make to enhance security – according to a new consumer fraud study by AI and analytics firm, SAS.

Based on a survey of 13,500 consumers in 16 countries, Faces of Fraud: Consumer Experiences With Fraud and What It Means for Businesses reveals the immensity of the global fraud problem:

Most consumers (70%) reported having experienced fraud at least once. Four in 10 indicated they have fallen victim to fraud twice or more.