Investments on fraud detection and prevention are forecasted to surge by 85% by 2030, according to a recent study by Juniper Research.
The global tech strategist is tipping that investments could rise from $21 billion in 2025 to $39 billion in 2030, reflecting the urgent need to combat evolving advanced fraud techniques, including real-time injection attacks, where manipulated content is inserted during identity verification processes.
According to Lorien Carter, senior research analyst at Juniper Research, fraudulent actors are increasingly using artificial intelligence (AI) to refine their techniques and outpace traditional detection systems.
Because of this, attacks are becoming harder to identify, and rendering current detection tools are becoming ineffective, opening up the need to overhaul fraud prevention strategies to strengthen identity verification and ensure the authenticity of both users and transactions.
In particular, banks are in need to defend themselves against new threats on their security, reputation, and regulatory compliance. Juniper Research says considerable investment is being directed towards implementing background fraud tools that use behavioural analytics and machine learning to flag suspicious activity, while minimising user journey interruptions.
