A sharp rise in digital fraud is costing companies worldwide an average of 7.7% of annual revenue, according to TransUnion’s H2 2025 Update: Top Fraud Trends report.
The study, published today, estimates that businesses lost a combined $534bn over the past year, based on surveys of 1200 business leaders across six countries.
US Businesses Hit Hardest
In the US, companies reported even steeper losses, averaging 9.8% of revenue, representing a 46% increase since 2024 and 27% above the global average. Among 200 surveyed US executives, this translates to an estimated $114bn in losses.
“Fraudsters are exploiting every digital touchpoint, from account creation to login and transaction,” said Steve Yin, TransUnion’s global head of fraud.
“The financial impact is staggering, and organizations must rethink how they verify identity and secure customer interactions.”
The report highlights that as losses mount, fraud is becoming more complex and diverse.
The leading causes of business fraud worldwide were:
Account Takeover Fraud Surges
In the US, account takeover has surpassed other types of fraud as the most damaging, accounting for 31% of reported losses. Synthetic identity fraud followed at 24%, with scams and authorized fraud close behind at 23%.
Globally, account takeover volume rose 21% between H1 2024 and H1 2025 and has surged 141% since 2021, signaling a sustained and worrying trend.
Read more on global cybercrime trends: Retail Ransomware Attacks Jump 58% Globally in Q2 2025
“As account takeover fraud surges, businesses can no longer afford solely reactive defenses,” Yin said.
“Protecting customer accounts is not just a priority – it’s a business imperative.”
Consumers Face Expanding Digital Threats
TransUnion’s survey of consumers in 18 countries found that 48% were targeted by fraud attempts between February and May 2025, while 52% were unaware.
Common scams included smishing (36%), phishing (34%) and vishing (33%). In the US, 51% of consumers said they had been targeted, most often by phishing or smishing, while 49% were unsure whether they had been attacked.
India, South Africa and Guatemala reported the highest percentages of people who fell victim to fraud in H1 2025.
“It’s more important than ever for consumers to regularly review their credit reports,” said Margaret Poe, TransUnion’s head of consumer credit education.
“Those who suspect they’ve been targeted should […] also consider placing a credit freeze.”
