One in 4 consumers in APAC have been victims of online fraud
This is particularly higher in China and India, Experian found.
One in four consumers in the Asia-Pacific region has experienced online frau, yet many remain unconcerned, Experian found.
In its Global Identity & fraud Report, Experian found that more consumers in China and India are vulnerable with 29% of consumers in each market reporting they have fallen victim to online fraud.
“Maintaining a safe and secure online experience is a shared responsibility between consumers and businesses. Consumers need to be aware of the risks they face online and practise good cyber hygiene,” Luciano Scalise, Decision Analytics Managing Director EMEA & APAC, Experian, said.
“Businesses can leverage orchestration solutions to connect recognition, fraud prevention and their customer experience, and take advantage of a single platform to bring all their tools and data sources together.
Experian surveyed six markets in the region, particularly, Australia, China, India, Indonesia, Malaysia, and Singapore.
It further found that consumers across APC markets have varying concerns with 45% of consumers in India focusing more on fraud and identity theft against only 9% in China.
Meanwhile, 29% of the respondents in Singapore are very concerned about fraud incidents.