How Large Will the Digital Fraud Problem Become by 2030?

Fraud detection and prevention is critical for organisations across a wide range of industries. However, it is especially crucial in the banking and finance sector, where card issuers, banks, credit unions, and lenders are prime targets for increasingly sophisticated forms of fraud.

While anti-fraud measures have evolved significantly over time, the constantly changing nature of fraud means that organisations must continually adapt their defences. As fraudsters develop new tactics and techniques, traditional methods can quickly become less effective.

A comprehensive fraud detection and prevention programme combines data analytics with specialised detection software and tools to identify and mitigate fraudulent activity. These solutions enable organisations to anticipate established fraud tactics, automate data cross-referencing, monitor transactions and suspicious activity in real time, and identify emerging and increasingly sophisticated schemes.

At its core, fraud detection involves a combination of tools, technologies, and procedures to protect money, information and other assets from theft or misuse. It acts as a critical security barrier; helping organisations safeguard against a broad spectrum of fraudulent activity, from minor infractions to more serious financial crimes.

These tools are especially important as the number of fraudulent transactions seem to be on a rise, globally. The total number of fraudulent transactions across digital banking and money transfers is expected to reach 2.2 billion in 2031; up from 773.7 million in 2026. This represents a 180.3% increase over the forecast period; highlighting the scale and pace at which digital fraud is expected to grow.

About the Infographic

The infographic explores how the number of fraudulent transactions across digital banking and money transfers is expected to evolve by 2031, with the data broken down across regions worldwide.

According to the infographic, Far East & China is projected to record the highest number of fraudulent transactions across digital banking and money transfers by 2031. This is largely driven by the region’s vast digital payments market, which is supported by its large population and widespread adoption of mobile payment platforms. In China alone, total mobile payment transactions surpassed $43 trillion in 2024; driven primarily by dominant ecosystems such as Alipay and WeChat Pay.

Meanwhile, the Indian Subcontinent is forecast to experience the fastest growth in fraudulent transactions, with the number expected to reach 517.4 million by 2031. This sharp increase is primarily linked to the rapid growth of money transfers, alongside the widespread adoption of mobile money services across emerging markets in the region.

North America is anticipated to experience the slowest growth in fraudulent transactions; reaching 132.6 million by 2031. The region is expected to have 98.6% of banks and credit unions adopting fraud detection and prevention solutions by 2031 – a level of market maturity significantly higher than that of most emerging markets. This greater baseline of defensive coverage is expected to help suppress the rate at which new fraudulent activity successfully reaches customers and financial institutions.

Source: Banking Fraud Prevention Market: 2026-2031

Read the Press Release: Banking Fraud to Reach 2.2 billion Transactions by 2031, Fuelled by Growing AI-enabled Attacks

Download the Whitepaper: The Fraud Frontier: Securing Banking in an AI-driven Era