Philippine ranks second in global digital fraud

The Philippines posted a suspected digital fraud rate of 13.4 percent in 2024, more than double the global average of 5.4 percent and the second highest among surveyed countries, according to global information solutions provider TransUnion.

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In a report, TransUnion said the Philippines has now surpassed the global fraud rate for the fifth straight year.

India led with the highest digital fraud rate at 19 percent, followed by the Philippines and the Dominican Republic at 10.9 percent.

The data also pointed to an alarming rise in fraud-related incidents targeting Filipinos. Nearly three out of four Filipinos (74 percent) surveyed said they had been targeted by fraud schemes via email, online platforms, phone calls or text messages. This is higher than the 53 percent average across 18 other countries and regions.

More troubling, 34 percent of Filipinos reported losing money to such schemes compared to the global average of 29 percent.