CHICAGO, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Fraud is draining business resources at an alarming and unprecedented rate. According to TransUnion’s (NYSE: TRU) newly released H2 2025 Update to the Top Fraud Trends Report, companies worldwide lost 7.7% of their annual revenue on average due to fraud over the past year, representing an estimated $534 billion across the 1,200 business leaders surveyed. In the U.S., business leaders reported their companies lost (on average) the equivalent of 9.8% of revenue due t ...

TransUnion’s latest study reveals 200 Canadian business leaders surveyed said their companies lost an estimated CAD$111 billion to fraud in the past year, with synthetic identity scams now accounting for over a quarter of those losses. More than a tenth of both online communities and gambling transactions coming from Canada were suspected of digital fraud in the first half (H1)1 of 2025 – with online communities experiencing a 68% year-over-year (YoY) increase in the volume of attempts. Key Study Findings: ...

Digital Privacy & Consent - Traditional consent methods (simple yes/no in lengthy terms and conditions) are failing in the hyper-connected age [4] - Algorithms constantly learn, predict behavior, and influence choices, often beyond explicit consent [5] - Individuals often lack the knowledge to understand how their data is being utilized by tech giants, creating a power imbalance [6] - Meaningful consent should be clear, concise, and accessible to all [7] - Users should have granular control over data sharing preferences [8] Data Literacy & Awareness - In India, approximately 70% of people have formal access to social media, but only around 17% have data literacy awareness [9] - Individuals need to understand their privacy rights [12] Regulatory Landscape & Business Responsibility - India's Digital Personal Data Protection (DPDP) Act mandates customer consent for data utilization by corporations [11] - Unauthorized data access can result in a fine starting from 250 crore (25 billion) [12] - Businesses should adopt ethical and clear data collection practices, respecting customer consent [12] Data Breach & Security - India ranks second globally in data breach attacks [15] - Individuals should be proactive in advocating for their privacy rights and staying updated on relevant acts like the DPDP Act [14] - It's crucial to understand how to prevent further data leakage when unauthorized data access is suspected [15]