Surge in AI fraud leads to revenue losses

A new report reveals that 73 percent of UK fraud professionals report that online fraud has negatively affected their company's revenue in the past year. The UK Fraud Industry Pulse Survey from Veriff shows 72.5 percent of businesses have seen an increase in online fraud over the past 12 months. For 64 percent of businesses, this translated to revenue losses of between one and nine percent, costing them millions. More alarmingly, nine percent of UK businesses reported losses ranging between 10 and 20 percent of their annual revenue. 'These findings paint a stark picture of the growing financial threat that… [Continue Reading]