Fraud rate in PHL digital transactions estimated at 13.4%, TransUnion says
THE rate of fraud in Philippine digital transactions was estimated at 13.4% in 2024, exceeding the global average of 5.4%, according to a study by TransUnion Philippines.
Of the 18 markets analyzed, the Philippines posted the second-highest suspected digital fraud rate, behind India (19%).
According to TransUnion’s H1 2025 Update to the State of Omnichannel Fraud Report, the average loss in fraudulent Philippine digital transactions was about $768.
“While these figures are lower than the median of $1,747 across global markets which TransUnion surveyed, the impact of falling victim to fraud remains significant,” Yogesh Daware, chief commercial officer at TransUnion Philippines, said in a statement.
“Considering the average monthly wages in the Philippines, the losses constitute at least over two months’ salary for most Filipino households.”
The study incorporated input from 990 Filipino consumers surveyed between Nov. 21 and Dec. 11, 2024. About 74% said they were targeted by fraudulent schemes in the last three months, exceeding the 53% average across all markets surveyed, TransUnion said.
Some 34% of Filipinos said they lost money in fraudulent transactions, exceeding the global rate of 29%.
“These trends showed that Filipinos are facing greater risks from fraud, highlighting the need for stronger safeguards to prevent financial losses,” TransUnion said.
By industry, communities, including online dating and social media sites, posted the highest suspected digital fraud rate of 19.2% last year.
“The high volume of users interacting online opens doors for fraudsters to take advantage of unsuspecting victims,” Mr. Daware said, noting that fraudsters are ramping up their attacks and diversifying their tactics.
According to the report, phishing was the most reported fraud scheme among Filipinos, with 63% of consumers saying they were targeted but did not fall victim. Some 26% said they were not targeted, while 11% were targeted and fell victim.
The fraud rates for other industries were as follows: retail (13%), financial services (6.3%), logistics (5.8%), government (4.5%), telecommunications (0.8%), and travel and leisure (0.5%).
TransUnion also noted the significant decline in the financial services sector’s suspected digital fraud rate due to stronger efforts from the public and private sectors.
Still, nearly all Filipinos surveyed were concerned they could fall victim to fraud, according to Mr. Daware.
“Fraudsters are highly adaptable and constantly evolving their tactics to exploit unprepared victims. Businesses and consumers must remain vigilant to avoid deception.” — Beatriz Marie D. Cruz
