Global payment fraud losses reached $41 billion in 2023, with 1 in every 300 transactions turning fraudulent. Real-time monitoring blocked 98% of fraudulent transactions, yet card testing and account takeover attempts still keep attackers active. The data shows how tactics shift across regions, channels, and devices, from credential stuffing and CNP fraud to synthetic identity growth.
Key Takeaways
- 92% of organizations use AI for fraud detection, preventing 85% of attacks in 2023.
- Global payment fraud caused $41 billion in direct losses to merchants and issuers in 2023.
- Card-not-present (CNP) fraud accounted for 80% of all card fraud globally in 2023.
- In 2023, global payment fraud losses reached $41 billion, marking a 15% increase from 2022.
- In the US, payment fraud losses totaled $12.5 billion in 2023.
Payment fraud is rising, making stronger authentication and real time monitoring essential for stopping losses.
Related reading
01 · Category
Detection and Prevention20 stats
01
92% of organizations use AI for fraud detection, preventing 85% of attacks in 2023.
02
Biometric authentication reduced payment fraud by 67% in tested pilots in 2023.
03
Real-time payment monitoring blocked 98% of fraudulent transactions in 2023.
04
3D Secure 2.0 adoption cut CNP fraud by 71% for participating merchants in 2023.
05
Machine learning models detected 95% of ATO attempts with 0.1% false positives in 2023.
06
Tokenization reduced card fraud exposure by 55% globally in 2023.
07
Behavioral biometrics prevented $1.2 billion in fraud losses in 2023.
08
78% of fraud teams use graph analytics for payment fraud rings detection in 2023.
09
EMV chip technology reduced counterfeit card fraud by 87% in EMV regions by 2023.
10
Device fingerprinting blocked 82% of bot-driven payment fraud in 2023.
11
SCA (Strong Customer Authentication) compliance lowered fraud by 85% in Europe 2023.
12
AI-driven velocity checks stopped 90% of card testing attacks in 2023.
13
65% of banks implemented continuous authentication for payments in 2023.
14
Fraud prevention platforms saved merchants $32 billion in prevented losses 2023.
15
Voice biometrics verified 99.5% of legitimate payments reducing fraud 40%.
16
Network tokenization adoption grew 40%, cutting fraud 60% in 2023.
17
55% decline in friendly fraud via enhanced return policies and ML in 2023.
18
Quantum-safe encryption piloted to prevent future payment fraud attacks.
19
Collaborative fraud sharing networks blocked 70% more cross-merchant fraud.
20
Zero-trust architecture in payments reduced insider fraud by 92% in 2023.
Interpretation
Detection and Prevention Interpretation
While AI might be composing its own symphonies soon, today it's conducting a brilliant and well-armed orchestra of biometrics, real-time analysis, and hardened protocols that has fraudsters fleeing the stage in 2023.
02 · Category
Financial Impact19 stats
01
Global payment fraud caused $41 billion in direct losses to merchants and issuers in 2023.
02
US consumers lost $8.8 billion to payment scams in 2023.
03
E-commerce fraud cost global merchants $48 billion in 2023 including recovery costs.
04
Average chargeback cost per incident was $150globally in 2023.
05
Payment fraud recovery rates averaged 45% for financial institutions in 2023.
06
Global BNPL fraud losses reached $2.1 billion in 2023.
07
US wire transfer fraud losses were $4.3 billion in 2023.
08
Merchants absorbed 75% of global CNP fraud losses in 2023.
09
Average financial impact of ATO per victim was $1,200in 2023.
10
Global check fraud losses exceeded $20 billion in 2023.
11
Payment fraud indirect costs (prevention) totaled $15 billion globally in 2023.
12
UK APP fraud cost consumers £485 million in 2023.
13
Synthetic identity fraud losses projected at $20 billion by 2023 cumulatively.
14
E-commerce chargeback fraud cost $116 billion globally in 2023.
15
Average merchant fraud loss per $1,000revenue was $17.20 in 2023.
16
US investment scam payment losses $4.6 billion in 2023.
17
Global crypto payment fraud losses $3.8 billion in 2023.
18
Payment fraud insurance claims rose 25% costing $5 billion in 2023.
19
AI prevented $6.5 billion in payment fraud globally in 2023.
Interpretation
Financial Impact Interpretation
The digital pickpocket is getting absurdly rich, with fraud siphoning tens of billions from the global economy, proving that in the race between security and crime, we're all paying the entry fee.
03 · Category
Fraud by Type17 stats
01
Card-not-present (CNP) fraud accounted for 80% of all card fraud globally in 2023.
02
Account takeover (ATO) fraud made up 25% of payment fraud incidents in 2023.
03
Friendly fraud (chargeback fraud) represented 38% of e-commerce disputes in 2023.
04
Phishing-related payment fraud incidents rose 58% in 2023.
05
Synthetic identity fraud in payments increased to 15% of total fraud in 2023.
06
Authorized Push Payment (APP) fraud totaled $2.4 billion in 2023.
07
Check fraud returned with 366% increase in volume in 2023.
08
Malware-based payment fraud attacks grew 32% in 2023.
09
Triangle fraud (new account fraud) hit 12% of digital banking fraud in 2023.
10
BNPL fraud schemes increased 300% involving social engineering in 2023.
11
Credential stuffing attacks on payment platforms up 40% in 2023.
12
Remote access trojan (RAT) usage in payment fraud rose 27% in 2023.
13
E-commerce account takeover via SMS phishing was 22% of ATO cases.
14
Payment redirection scams accounted for 18% of business email compromise fraud.
15
Card testing fraud volume reached 1 billion attempts in 2023.
16
Refund abuse in retail payments was 9% of fraud losses in 2023.
17
Deepfake voice fraud in payments emerged with 650% growth in 2023.
Interpretation
Fraud by Type Interpretation
The modern fraudster, clearly a work-from-home enthusiast, now prefers phishing over pickpocketing, as the digital world has become a chaotic buffet where everyone—from scammers using deepfakes to customers committing "friendly fraud"—is helping themselves to a slice of your money.
More related reading
04 · Category
Global Fraud Statistics20 stats
01
In 2023, global payment fraud losses reached $41 billion, marking a 15% increase from 2022.
02
Payment fraud attempts worldwide surged by 18% year-over-year in 2023, totaling over 25 billion attempts.
03
Digital payment fraud accounted for 72% of all payment fraud incidents globally in 2023.
04
The average cost per payment fraud incident worldwide was $4.52in 2023.
05
Mobile payment fraud losses grew by 22% globally from 2022 to 2023, reaching $12.5 billion.
06
In 2023, 1 in every 300 payment transactions globally was fraudulent.
07
Global e-commerce fraud rate averaged 1.52% of transactions in 2023.
08
Cross-border payment fraud losses hit $8.7 billion worldwide in 2023.
09
BNPL (Buy Now Pay Later) fraud incidents rose 210% globally in 2023.
10
Synthetic identity fraud in payments increased by 31% globally in 2023.
11
Global real-time payments fraud losses projected to reach $13 billion by 2027.
12
In 2023, 65% of global merchants reported increased payment fraud attempts.
13
Worldwide card-not-present (CNP) fraud losses were $28.65 billion in 2022.
14
Global payment fraud detection rates averaged 92% in 2023 using AI tools.
15
In 2023, cryptocurrency payment fraud losses exceeded $3.7 billion globally.
16
Global friendly fraud returns cost merchants $101 billion in 2023.
17
Payment fraud victimization rate globally was 0.73% of adults in 2023.
18
In 2023, 40% of global payment fraud involved stolen credentials.
19
Global A2A (account-to-account) payment fraud rose 25% in 2023.
20
Projected global payment fraud losses to hit $50 billion by 2027.
Interpretation
Global Fraud Statistics Interpretation
While the bots are getting savvier, the stats reveal our digital wallets are hemorrhaging billions as fraudsters treat the global payment landscape like their personal, poorly secured buffet.
05 · Category
Regional Fraud Statistics20 stats
01
In the US, payment fraud losses totaled $12.5 billion in 2023.
02
US e-commerce fraud rate was 1.68% in 2023, highest among regions.
03
In Europe, card fraud losses reached €5.2 billion in 2022.
04
UK payment fraud losses hit £1.2 billion in 2023, up 9% YoY.
05
In APAC, mobile wallet fraud grew 35% to $4.8 billion in 2023.
06
Brazil saw payment fraud losses of $2.1 billion in 2023.
07
In Canada, CNP fraud accounted for 78% of card fraud losses in 2023.
08
Australia reported 1 in 45 online transactions fraudulent in 2023.
09
India payment fraud cases reached 1.3 million in 2023, up 25%.
10
In the Middle East, payment fraud losses grew 28% to $1.9 billion in 2023.
11
US account takeover fraud losses were $6.8 billion in 2023.
12
Germany card fraud rate was 0.08% of transactions in 2023.
13
China mobile payment fraud losses hit $2.5 billion in 2023.
14
France APP (authorized push payment) fraud losses €1.1 billion in 2023.
15
Mexico payment fraud growth 20% to $1.4 billion in 2023.
16
South Africa card fraud losses R2.5 billion in 2023.
17
Japan CNP fraud rate 0.45% in 2023.
18
In the US, 69% of fraud was digital payments in 2023.
19
EU-wide payment fraud reported 500,000 incidents in 2023.
20
Nigeria mobile money fraud losses NGN 10 billion in 2023.
Interpretation
Regional Fraud Statistics Interpretation
The world’s criminals are conducting a grimly efficient global tour, harvesting billions with digital pickpockets while we all just keep clicking ‘pay now’.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Felix Zimmermann. (2026, February 13). Payment Fraud Statistics. Gitnux. https://gitnux.org/payment-fraud-statistics
MLA
Felix Zimmermann. "Payment Fraud Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/payment-fraud-statistics.
Chicago
Felix Zimmermann. 2026. "Payment Fraud Statistics." Gitnux. https://gitnux.org/payment-fraud-statistics.
Sources & references
58 datasets cited across this report · attribution is report-level
akamai.com