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Online Payment Fraud Losses to Exceed $343 Billion Globally Over the Next 5 Years, Juniper Research Study Finds
A new study from Juniper Research has found cumulative merchant losses to online payment fraud globally between 2023 and 2027 will exceed $343 billion. As a comparison, this equates to over 350% of Apple’s reported net income in the 2021 fiscal year; showing the massive extent of these losses.
Online payment fraud includes losses across the sales of digital goods, physical goods, money transfer transactions and banking, as well as purchases like airline ticketing. Fraudster attacks can include phishing, business email compromise and socially engineered fraud.
• Key Drivers: Online payment fraud losses are partly being driven by fraudster innovation in areas such as account takeover fraud, where a user’s account is hijacked. This is despite the wide employment of identity verification measures.
• New research report: Online Payment Fraud: Emerging Threats, Segment Analysis & Market Forecasts 2022-2027
• Free whitepaper: Fighting Online Payment Fraud in 2022 & Beyond
Innovation Needed in Fraud Prevention Strategies
The research found that in order to combat rising fraud, fraud prevention vendors must orchestrate the right mix of verification tools, at the most effective point in the customer journey, to best protect users, but that this will require significant capabilities to achieve.
Report author Nick Maynard explained: “Fundamentally, no two online transactions are the same, so the way transactions are secured cannot follow a one-size-fits-all solution. Payment fraud detection and prevention vendors must build a multitude of verification capabilities, and intelligently orchestrate different solutions depending on circumstances, in order to correctly protect both merchants and users.”
Physical Goods Largest Fraud Area
The research identified physical goods purchases as the largest single source of losses; accounting for 49% of cumulative online payment fraud losses globally over the next 5 years, growing by 110%. Lax address verification processes in developing markets are a major fraud risk, with fraudsters targeting physical goods specifically, due to their resell potential. As such, it recommends merchants adopt strong anti-fraud measures, including multiple sources of address verification and multi-factor authentication to reduce fraudulent incidents for physical goods merchants.
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MAPFRE is the leading multinational insurance group operating in Latin America, with $10.932 billion in premiums, $133 million more than the previous year, and a market share of 5.1%.
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The 4th Edition of the Africa Fintech Forum to Shape the Future of Finance in Kenya on October 15
The 4th edition of the Africa Fintech Forum will take place on 15th October 2025 at the Pullman, Nairobi, Upper Hill, bringing together leaders, innovators, and policymakers from across the African financial technology ecosystem.
Prove Launches Global Identity Graph to Redefine Digital Trust for 90% of Digital Consumers
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Sumsub Named a Leader in IDC MarketScape for Worldwide Identity Verification in Financial Services 2025
Sumsub, a global verification and anti-fraud leader, today announced it has been named a Leader in the IDC MarketScape: Worldwide Identity Verification in Financial Services 2025 Vendor Assessment (doc # US52985325, September 2025). The report evaluates identity verification providers based on both current capabilities and long-term strategies, assessing how well vendors meet the needs of financial services organizations now and in the years ahead.
GoCardless Achieves Profitability
Bank payment company GoCardless has recorded its first EBITDA positive quarter on an adjusted basis*, operating in the black in the final three months of FY25 (April to June 2025). The result reflects strong cost discipline and a sustained growth trajectory, positioning the company for long-term financial sustainability.
Boku Deepens LATAM Commitment, Readies Merchants for Brazil’s Digital Payments Revolution via Pix
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MAPFRE is the Largest Multinational Insurance Company in Latin America
MAPFRE is the leading multinational insurance group operating in Latin America, with $10.932 billion in premiums, $133 million more than the previous year, and a market share of 5.1%.
African Development Bank Group’s Office of Integrity and Anti-Corruption Partners with Special Investigations Unit to Combat Financial Crime
The African Development Bank’s Office of Integrity and Anti-Corruption (PIAC) (www.AfDB.org) and the Special Investigations Unit (SIU) of South Africa have signed a Memorandum of Understanding establishing a framework for cooperation between the two organizations for information sharing and capacity building.
The 4th Edition of the Africa Fintech Forum to Shape the Future of Finance in Kenya on October 15
The 4th edition of the Africa Fintech Forum will take place on 15th October 2025 at the Pullman, Nairobi, Upper Hill, bringing together leaders, innovators, and policymakers from across the African financial technology ecosystem.
EXCLUSIVE: “Zee Whizz! Adapting to a New Banking Generation” – Joud Zaumot, Mambu and Andrzej Szelemetko, GFT Technologies in ‘The Fintech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Banks Embrace Core Banking Modernisation and Speedboat Strategies
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Prove Launches Global Identity Graph to Redefine Digital Trust for 90% of Digital Consumers
Prove, the global leader in digital trust, today announced the launch of the Prove Identity Graph, a foundational layer of Prove’s platform that enables enterprises to verify and recognize customers instantly, securely, and globally.