Fraud Attacks Growing Faster Than Business Defences by Experian Report

News Desk. News Nation 360: In its most recent study report, "Building Trust in a World of Deception," Experian and Forrester Consulting found a substantial discrepancy between the increasing sophistication of fraud and Indian companies' defensive capacities. According to the report, which is based on a review of almost 1,000 senior fraud leaders worldwide, 69% of Indian organisations acknowledge that their present technology is unable to thwart rapidly emerging risks, especially those driven by generative AI. 65% of firms now consider GenAI-generated fraud to be their biggest concern due to the rise in identity theft and social engineering in financial services and telecom, as well as the rise in refund abuse in e-commerce. There is still a major manpower deficit, with 76% of Indian enterprises missing the professionals required to handle these sophisticated systems, even though 54% of machine learning users report enhanced detection accuracy. In response, 64% of businesses intend to integrate fraud checks with credit risk systems, and 83% of businesses are moving toward passive checks like behavioural tracking and device intelligence to safeguard clients without increasing complexity. As India's digital economy continues to grow quickly, Experian's leadership, particularly India MD Manish Jain, emphasises that modernising through shared data networks and real-time AI is no longer optional but rather a basis for resilience.

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