BERLIN, July 26, 2022 (GLOBE NEWSWIRE) — The Global Fraud Detection and Prevention Market Size accounted for USD 27 Billion in 2021 and is projected to reach USD 176 Billion by 2030, with a significant CAGR of 23.4% from 2022 to 2030.
While there was a rise in the number of fraudulent activities all over the world, the arrival of the COVID-19 pandemic acted as a catalyst for these illegal activities. According to the UK Finance Organization, unauthorized financial fraud losses from payment cards, remote banking, and paychecks totaled more than $950 million in 2020. Furthermore, UK Finance reported 149,946 cases of Authorized Push Payment (APP) scams in 2020, totaling $581 million in gross losses. Our global fraud detection and prevention market forecast say that the implementation of advanced AI, ML, and blockchain would help business and consumers to save millions in the coming future.
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| Market | Fraud Detection and Prevention Market |
| Market Size 2021 | USD 27 Billion |
| Market Forecast 2030 | USD 176 Billion |
| CAGR During 2022 – 2030 | 23.4% |
| Analysis Period | 2018 – 2030 |
| Base Year | 2021 |
| Forecast Data | 2022 – 2030 |
| Segments Covered | By Component, By Fraud Type, By Deployment Model, By Organization Size, By Industry Vertical, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | ACI Worldwide, Inc., BAE Systems, Experian plc,… |
