10% of Dominican digital transactions suspected fraudulent

Santo Domingo.- A TransUnion report revealed that 10.4% of digital transactions in the Dominican Republic during the first half of 2024 were flagged as suspected fraud, a slight drop from 11.9% in the same period in 2023. The country had the second-highest fraud rate among 19 nations analyzed, with 32% of consumers reporting recent fraud attempts via email, calls, or text messages.

Community platforms, such as dating sites and forums, were the most affected sectors, with 16.1% of suspected fraudulent transactions, followed by retail (10.9%) and video games (8.7%). Government agencies saw a dramatic 221% increase in suspected fraud attempts compared to 2023. Globally, synthetic identity fraud and electronic funds transfer fraud were the fastest-growing fraud types.

TransUnion’s Danilda Almanzar emphasized the importance of advanced fraud prevention technologies, including identity verification and device reputation tools, to protect digital transactions and foster trust. The findings highlight the critical need for organizations to strengthen safeguards in an increasingly digital world.