FICO Survey: Close to 1 in 2 Thais Worried About Being Scammed As Real-Time Payment Risks Grow
Highlights
-
Payment Fraud is the top financial crime concern for
45% of Thais -
Identity theft worries persist, with
61% believing they have or might have been victims -
36% of Thai consumers name fraud and scam protection as their top consideration for new financial accounts
FICO, a leading global analytics software firm, today unveiled its latest global consumer fraud research, shedding light on Thais' ongoing apprehension regarding real-time payment scams amid the growing adoption of new, convenient, and fast payment channels. According to the study, the primary worry for Thais remains the risk of being tricked into sending money to criminals (
Additionally, concerns about identity theft persist, with
More information: https://www.fico.com/en/latest-thinking/ebook/consumer-survey-2023-digital-banking-customer-preferences-and-fraud-controls
“The rapid adoption of real-time payment in
Awareness of identity theft in
Concerningly, the rate of respondents who reported their stolen identity being used to open a financial account was considerably higher in
However, despite widespread concern about identity theft, there remains a dissonance between perception and reality among Thais. About
“While some may downplay the risk of identity theft in
Thais Seek a Balance Between Good Fraud Protection and Convenience
When selecting a new provider for a financial account, respondents identified robust fraud protection and ease of use as their top priorities. Notably, good fraud protection was far ahead, ranked as the most important quality by
"Fraud protection is increasingly seen as a selling point rather than just a cost center for banks,” concluded Leo. “Consumers are highly aware that most theft threats are now online, making robust fraud protection a critical factor in their decision-making process."
The survey was conducted in November 2023 by an independent research company adhering to research industry standards. 1,002 Thai adults were surveyed, along with approximately 12,000 other consumers in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240522346026/en/
Lizzy Li
RICE for FICO
+65 9034 7768
lizzy.li@ricecomms.com
Saxon Shirley
FICO
+65 9171 0965
saxonshirley@fico.com
Source: FICO