TransUnion 2024 State of Omnichannel Fraud Report

The TransUnion 2024 State of Omnichannel Fraud Report serves as a comprehensive guide detailing the trends and insights related to fraud prevention strategies amidst the growing digital transaction landscape. The report highlights the alarming rise in fraud incidents, particularly account takeover and synthetic identity fraud, which have surged in 2023. It underscores the critical importance of organizations knowing the identities of their customers to mitigate fraud risks effectively. The document combines proprietary data from TransUnion's global intelligence network and a consumer survey conducted across 18 countries, providing a robust analysis of consumer behavior and fraud exposure. Key findings reveal a significant increase in data breaches and the severity of these breaches, particularly in the healthcare and education sectors. The report aims to assist organizations in evaluating their fraud prevention programs and enhancing customer experiences to foster trust and improve business outcomes. It emphasizes the necessity for companies to balance security with convenience to retain consumer loyalty.