Fraud is a growing concern across Asia Pacific. In a recent 2019 APAC focused study, out of 700 APAC business surveyed, 67% of businesses reported an increased concern for fraud loses, compared to the prior year. 50% of businesses surveyed stated they have seen a significant increase in fraud losses over the past 12 months, with fraud losses particularly prominent in Australia, Singapore, Japan, Malaysia and Vietnam.
The fast-growing adoption of technology and internet penetration across the region, makes organisations and individuals more vulnerable than ever.
With the average overall costs of fraud being 1.75% of revenue for businesses across the region, fraud and security professionals must ensure they are abreast of the latest trends shaping the fraud landscape in APAC and beyond.
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