This infographic from the 2023 Telesign Trust Index highlights the growing link between digital trust and fraud in financial services. It shows that 30% of consumers have experienced fraud in the past three years, with 61% reporting financial losses, and over half losing more than $1,000. Millennials are four times more likely to be targeted than older users. The report reveals 45% of users don’t protect themselves, while 94% believe businesses must safeguard their data. Fraud incidents damage mental health and brand trust, with 43% of victims leaving affected companies. Telesign recommends AI-driven onboarding, risk-based authentication, and communication fraud detection.

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