Security News > 2023 > May > Fraud victims risk more than money

Digital fraud has significant financial and psychological repercussions on victims, according to Telesign.

Businesses may find a new reason to fear digital fraud as the negative impacts of digital fraud on companies' brand perception and the bottom line.

Digital users would go to great lengths to avoid becoming a victim of digital fraud Consumer fear digital fraud is on the rise.

50% of consumers polled indicated their level of apprehension regarding telephone and digital fraud has increased in the last two years.

Prior victims of fraud were statistically more likely to use this type of software.

"Trust profoundly impacts how customers perceive and engage with a brand. With fear of digital fraud rising amongst consumers, the value of establishing and maintaining trust in business transactions is critical," said Kristi Melani, CMO & GTM Strategy of Telesign.

News URL

https://www.helpnetsecurity.com/2023/05/12/digital-fraud-fear/