TransUnion Report: 17% of U.S. Consumers Experienced Digital Fraud Losses Last Year, Median $2,307

U.S. consumers reported losing money to digital fraud in the past year, according to a report by TransUnion. The median reported loss among these consumers was $2,307. Clint Lowry, vice president of global fraud solutions at TransUnion, stated that fraud is big, growing, everywhere, and not going away.

He noted that generative AI has likely accelerated the scale and sophistication of criminal activity, allowing fraudsters to create more professional schemes with limited resources. One-third of U.S. consumers who lost money cited stolen credit card and fraudulent charge schemes as the cause.

This rate is significantly higher than the global average of 19%.

The leading methods of fraud losses included stolen credit card information obtained through phishing, website skimming, and account takeover. 39% of U.S. consumers reported being targeted by phishing attempts, which included fraudulent emails, QR codes designed to steal data, or social posts.

Sectors focused on consumer interaction, such as online dating and gaming, experienced the highest number of fraud incidents. Online dating sites saw a 7% increase in fraud incidents, while nearly 1 in 10 U.S. transactions on gaming sites were flagged for digital fraud.

Additionally, 38% of Gen Z consumers reported losses to fraud, attributed to their frequent use of gaming platforms and social apps.