Philippines Digital Fraud Rate Soars, Tops Global Average Again

The Philippines’ suspected digital fraud rate reached 13.4% in 2024, standing at 148% higher than the global average of 5.4%, according to new insights from TransUnion’s H1 2025 State of Omnichannel Fraud Report​.

This marks the fifth consecutive year that the Philippines has exceeded the global fraud rate, highlighting persistent vulnerabilities in the country’s digital ecosystem.

The country ranked second among all markets analyzed, just behind India (19%) and ahead of the Dominican Republic (10.9%), based on TransUnion’s proprietary global intelligence network.

“The average reported fraud loss among Filipinos last year according to our study was USD768, exceeding PHP44,700 in local currency,” said Yogesh Daware, Chief Commercial Officer at TransUnion Philippines​.

“Considering average monthly wages in the Philippines, the losses constitute at least over two months of salary for most Filipino households,” Daware added​.

TransUnion’s findings reveal that fraud exposure among Filipinos remains significantly higher compared to global peers.

From November 2023 to December 2024, 74% of Filipinos reported being targeted by an email, online, phone call, or text messaging fraud scheme, compared to a global average of 53%​.

Moreover, 34% of Filipinos reported losing money to fraud tactics during the same period, surpassing the global rate of 29%​.

Despite the severe economic impact, the average financial loss reported by Filipino victims remains lower than the global median of USD1,747 (approximately PHP101,700)​.

Still, the cost is substantial in a country where, according to the Philippine Statistics Authority, the average monthly family income is around PHP22,000​.

Communities—such as online dating and social media platforms—accounted for the highest digital fraud rateamong Philippine-based transactions at 19.2%​.

This figure exceeds the global fraud rate for the communities sector, which stood at 11.6%, by a staggering 66%​.

“The number of social media users in the Philippines amounts to 78% of the country’s population,” Daware explained​.

“The high volume of users interacting online opens doors for fraudsters to take advantage of unsuspecting victims,” he added​.

Interestingly, even though global transactions in communities slightly declined in 2024, the volume of suspected fraud attempts grew, suggesting fraudsters are becoming more aggressive and sophisticated​.

Following communities, the retail sector recorded the second-highest suspected fraud rate at 13.0% in the Philippines, again much higher than the global retail fraud rate of 7.6%​.

Meanwhile, the financial services sector in the country posted a 6.3% fraud rate, a significant 35% decrease year-over-year, despite a 17% growth in transaction volume​.

This decline in financial services fraud could be attributed to intensified anti-fraud efforts by the Philippine government and private sectors​.

The Bangko Sentral ng Pilipinas (BSP) and other regulatory bodies have mandated stronger cybersecurity protocols and cooperative mechanisms among financial institutions​.

TransUnion also launched the Fraud Industry Council (FIC) in 2024 to support collective industry efforts aimed at strengthening consumer protection and mitigating fraud risks​.

“The creation of the FIC is a critical step toward unified action against increasingly sophisticated fraud tactics,” Daware noted​.

Despite this progress in financial services, fraudsters appear to be shifting their focus toward other industries with less fortified defenses​.

Logistics (5.8%) and government services (4.5%) also recorded noticeable fraud rates, with the government sector seeing a 26% year-over-year increase​.

Telecommunications (0.8%) and travel and leisure (0.5%) experienced lower rates but still require vigilance given the rapid evolution of digital fraud methods​.

Globally, account takeover fraud grew by 20% in volume in 2024, making it one of the fastest-growing fraud types​.

TransUnion’s findings also indicate a global shift by cybercriminals toward quality over quantity, using exposed identity data to target more lucrative, short-term scams​.

“Almost all Filipinos that we surveyed were concerned with falling victim to fraud,” said Daware​.

“While fraud remains a concern in the Philippines, we also see declines in suspected digital fraud in the financial services industry, which run alongside intensified efforts from both the public and private sector,” he said​.

Daware emphasized the importance of maintaining vigilance, adding, “Fraudsters are highly adaptable and constantly evolving their tactics to exploit unprepared victims”​.

In addition to national initiatives, TransUnion encourages cross-industry collaborations, friction-right fraud prevention technologies, and consumer awareness programs to better protect the Filipino public​.

The TransUnion H1 2025 State of Omnichannel Fraud Report blends insights from billions of transactions globally, extensive business and consumer surveys, and specialized fraud analysis tools​.

The full report, covering 20 countries and regions, including the United States, United Kingdom, India, and South Africa, offers detailed insights into emerging fraud trends​.

Filipinos concerned about fraud are advised to remain cautious, avoid sharing sensitive information through unsecured channels, and verify transactions and contacts before disclosing any personal data​.

Given that 74% of Filipinos reported fraud attempts, cybersecurity literacy and strong digital hygiene practices are more critical than ever​.

Organizations, for their part, are urged to invest in advanced fraud detection technologies that balance security with seamless user experiences, as 77% of global consumers consider confidence in data security as a critical factor when choosing a service provider​.

As Daware summarized, “Businesses and consumers must remain vigilant to avoid deception. We look forward to seeing more partnerships across companies and even industries to further enhance fraud defenses.”​