Fraud Impact on German Companies Report 2024

This report presents findings from Ravelin's Fraud & Payments Survey 2024, focusing on the impact of fraud on companies in Germany. The survey reveals significant increases in various types of fraud, including payment fraud, account takeover attacks, and refund abuse, with 74% of German merchants anticipating further increases in the future. The report highlights the detrimental effects of fraud on key business metrics, noting that 55% of respondents indicated it affected growth, while 38% reported impacts on brand image and reputation. Additionally, the report outlines the annual costs of fraud for German companies, with various percentages reporting losses across different financial thresholds. It also discusses the challenges faced by merchants in combating fraud, including budget constraints and a lack of awareness among teams. The report concludes with insights into the expectations of German merchants regarding the future of fraud and the role of artificial intelligence in this landscape.