Scamscope 2024 Report: The Battle for Trust
APP scams are predicted to hit $7.6bn by 2028 and are on the rise in every country featured in this year’s report by ACI Worldwide.
Download the report to gain use cases from the U.S., U.K., India, Brazil, Australia, and the UAE to help build a secure payments environment in which consumers can confidently transact.
As the digital economy continues to expand, trust is becoming a critical currency. ACI Worldwide’s 2024 Scamscope Report: The Battle for Trust sheds light on the evolving landscape of fraud and the urgent need for businesses to protect their customers and reputation in the fight against scams.
Key Takeaways from the Report
Fraud is on the Rise
The report highlights alarming growth in scams, from phishing and social engineering to increasingly sophisticated methods targeting individuals and businesses alike.
Trust is a Strategic Imperative
Organizations that prioritize trust—not just in transactions but across the entire customer journey—are better positioned to win and retain loyalty. Transparency, security, and proactive communication are no longer optional—they’re essential.
The Need for Holistic Prevention
Data from the report underscores the importance of adopting a comprehensive approach to fraud prevention. This includes leveraging AI-powered tools, real-time monitoring, and robust education programs for both employees and customers.
What Can Businesses Do?
- Invest in Technology: Fraud prevention systems that use machine learning and advanced analytics can detect anomalies before they escalate.
- Educate Your Stakeholders: Empower customers and staff with knowledge about recognizing and avoiding scams.
- Foster Transparency: Be upfront about your security practices to build confidence and deter bad actors.
The 2024 Scamscope Report is a call to action for businesses across industries to rethink their approach to trust, making it a cornerstone of their strategy. Those who succeed will not only protect their bottom line but also strengthen their relationships with customers in an increasingly competitive market.
Download the full report to uncover more insights: 2024 Scamscope Report
