Fraudsters target Namibia’s retail sector
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The rate of suspected digital fraud attempts in Namibian retail was the highest among industries analysed in 2023, at 3.4%. However, that rate decreased 21% year-over-year, according to TransUnion’s 2024 state of omnichannel fraud report.
When it came to the industries with the greatest increase in the rate of suspected digital fraud, travel and leisure led with a 67% rise. This was followed by gaming (online sports betting, poker, etc.) where the rate of suspected digital fraud increased by 37%.
TransUnion also found across industries in 2023 that 1.2% of all Namibian transactions were flagged as being suspected digital fraud.
The TransUnion report revealed that nearly one in seven (13.5%) newly created accounts are suspected to be created via digital fraud globally, largely driven by bad actors using fabricated or stolen identities.
When it came to the industries with the greatest increase in the rate of suspected digital fraud, travel and leisure led with a 67% rise. This was followed by gaming (online sports betting, poker, etc.) where the rate of suspected digital fraud increased by 37%.
TransUnion also found across industries in 2023 that 1.2% of all Namibian transactions were flagged as being suspected digital fraud.
The TransUnion report revealed that nearly one in seven (13.5%) newly created accounts are suspected to be created via digital fraud globally, largely driven by bad actors using fabricated or stolen identities.
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Namibian Sun
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