TransUnion study says gambling sites prime target for digital fraud

TransUnion study says gambling sites prime target for digital fraud

Article brief provided by USBets
  • Jeff Edelstein, USBets
March 23, 2024 1:08 PM
  • Jeff Edelstein, USBets

Fraudsters are taking a bigger bite out of the online gambling world, according to a new report from TransUnion, which found the gambling sector in America was the prime target for digital fraud schemes in 2023.

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TransUnion’s study revealed the gambling industry, covering sports betting sites, online casinos and online poker, had the highest rate of suspected digital fraud in the U.S. last year at 10.9%. That’s up from 9% from 2022 and higher than any other business, even outpacing retail fraud, traditionally the “leader” in this world.

The most common type of fraud in gambling was promotion abuse, according to the study.

The report highlighted synthetic identity fraud as the fastest-growing type of digital fraud globally, rising 14.2% year-over-year.