Kolkata, 20 April 2026: Experian has released a new fraud research report based on a study by Forrester Consulting. The study covered nearly 1,000 senior fraud leaders across nine countries, including India. The findings show that fraud is rising faster than the ability of businesses to stop it. Many Indian organisations feel unprepared. Around 69% say their current technology is not strong enough to handle fast-changing fraud methods.
Fraud has become quicker, cheaper, and easier to carry out. Organised groups and new tools powered by Generative AI are making fraud more advanced. Identity checks are now a key target. Different sectors are facing different fraud risks. Financial services and telecom companies are seeing more identity theft and social engineering. In eCommerce, refund abuse and friendly fraud are increasing.
Even with these challenges, businesses are trying to improve. Around 83% are interested in using simple fraud checks like behaviour tracking and device intelligence. These help reduce trouble for genuine customers. About 64% plan to combine fraud checks with credit risk systems to build a stronger overall system.
Machine learning is becoming an important tool to fight fraud. Around 54% of users have seen better accuracy after using it. Also, 65% say it helps them decide which cases need manual checking. This helps teams work better. Many also believe that machine learning can find fraud that simple rule-based systems may miss. However, there is still a lack of skills. About 76% of Indian businesses say they do not have enough experts to build or manage machine learning systems. Even so, 74% plan to use these solutions in their fraud systems.
AI-generated fraud is a concern – about 65% of businesses believe it is the biggest fraud threat so far. Around 69% say their current KYC and identity checks cannot easily detect fake documents made using AI. About 74% have already seen a rise in such fraud attempts. Many believe that what is seen today is only a small part of the problem. Around 57% also find it hard to confirm. That GenAI was involved in a fraud attack, making it difficult to accurately quantify its true impact
Experian says fraud has entered a new phase due to economic changes, organised fraud groups, and fast growth in Generative AI. In a fast-growing country like India, digital use is rising in financial services, payments, and e-commerce. This makes the impact even more significant. Businesses need to upgrade their systems quickly. They need to use machine learning, device intelligence, and shared data networks. Building trust will be important to support India’s digital growth.
The report also shows that fraud is always changing and becoming more advanced. Many companies are now spending more on technology. This shows that manual checks and older systems are not enough. Tools like device intelligence, behaviour analysis, and machine learning are now important. Working together and sharing knowledge will help build strong protection against fraud in the future.
