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Complete Story
05/15/2025
First-party fraud surpasses scams to become leading form of global attacks
Fixextra
LexisNexis Risk Solutions releases its annual Cybercrime Report, an analysis of over 104 billion global transactions in the LexisNexis Digital Identity Network platform during 2024.
The report, The Calm Before the Storm?, shows a significant swing in the composition of global fraud attacks, with first-party fraud now the leading type globally, representing a third (36%) of all reported fraud in 2024, up from 15% the year before.
First-party fraud includes misrepresenting or giving false personal or account information for financial gain, such as when applying for a loan, claiming a credit or debit card purchase is fraudulent in order to get a refund (known as friendly fraud), or claiming ordered goods were not delivered. Buy Now, Pay Later (BNPL) providers and financial institutions are among the organisations reporting an uplift in first-party fraud, which is known to be exacerbated by periods of inflation and the rising cost of living. Increased institutional liability for scams, driven by regulation, is also likely having an impact.
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