Security News > 2021 > December > Fraud detection and prevention market to hit $100 billion by 2027

The fraud detection and prevention market is expected to surpass $100 billion by 2027, as reported in a research study by Global Market Insights.

The internal fraud type is anticipated to grow at over 25% CAGR between 2021 to 2027 due to the rising collusion among employees.

The credit & debit fraud segment is expected to hold 30% of the FDP market share in 2027.

Banks are increasingly adopting robust anti-fraud measures, such as electronic chip-based cards, anti-skimming ATM machines, and Two Factor Authentication, for protecting transactions against fraud activities.

The healthcare fraud involves fraudulent activities with the intention of defrauding medical insurers, government healthcare programs & equivalent private programs, and medical patients.

Asia Pacific is projected to grow exponentially in the fraud detection and prevention market with a substantial growth rate throughout the forecast timeline.

News URL

https://www.helpnetsecurity.com/2021/12/30/fraud-detection-prevention-market-2027/