Consumers Switch Provider If Not Protected Against Fraud


Nearly two-thirds of UK consumers will switch providers if they don’t feel protected against fraud, according to a new consumer fraud study commissioned by AI and analytics leader, SAS.

The survey of 13,500 global consumers highlighted the importance of robust fraud protection measures, with nearly 90% of consumers believing that organisations should be doing more to protect them from fraud. The findings have been reviewed and analysed in a new report entitled Faces of Fraud: Consumer experiences with fraud and what it means for businesses.

Highlighting the scale of the problem, a third of UK consumers have already been a victim of fraud twice or more, with three-quarters fearful of being the victim of fraud in the future.

Around 87% of consumers are growing increasingly wary of fraud, and when contacted by someone they weren’t expecting to hear from, nearly all will ignore or end the call, try to establish if it’s a legitimate inquiry, or both.

Carlos Sovegni, director of fraud and security intelligence at SAS EMEA & AP, said: 

“With fraudsters…

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