Kathmandu. Automated attack devices that mimic human behavior have increased by 59%.
According to the LexisNexis Risk Solutions Cybercrime Report, artificial identity fraud is expected to increase by 2025. That’s why businesses need to strengthen their cybersecurity.
An analysis of 116 billion transactions in 2025 shows that this type of fraud will increase eightfold globally. That’s now 11% of all digital fraud cases.
Synthetic fraud (where criminals create “Frankenstein IDs” by combining real and fake data) poses a unique underwriting challenge. Because these identities are not related to the real person. There is no victim triggering the alert.
Fraudsters are increasingly using these profiles to build up years of legitimate history before filing initial customer identification (KYC) checks, purchased insurance policies, and high-value fraudulent claims. In Latin America, this method now accounts for 48.3 percent of all reported fraud. The report also noted a 59% increase in dangerous bot attacks. Automated devices can now mimic human behavior, such as cursor movements, to avoid detecting behavioral fraud.
In addition, first-party fraud (legitimate insured falsifying information for monetary gain) is the largest source of fraud worldwide, at 38.3 percent. This trend is particularly evident in the Europe, Middle East and Africa (EMEA) region. It is responsible for more than half of all fraud cases.
The Asia Pacific region has seen strong growth in digital transactions, with fraudulent activity increasing and the attack rate increasing to 1.7%. Desktop browser attacks have increased exponentially as fraudsters use more advanced automation tools.
