• The rapid growth of e-commerce and digital services has created new vulnerabilities for fraud and cybercrime.
• Both "friendly" (e.g. chargebacks, returns abuse) and "unfriendly" (e.g. account takeovers, data breaches) fraud are on the rise.
• Criminals are increasingly using automation, bots, and even AI to exploit weaknesses in online systems.
• Businesses are responding with a mix of preventative strategies, from basic controls to advanced AI-powered fraud detection tools.
• A strong fraud strategy now requires not just technology, but also staff training, customer awareness, and expert support.

This article was first published in UHY Global magazine issue 19, in January 2025, and is reproduced with permission.