The rise of first-party fraud and other 2023 trends to watch

Did you know that 30% of fraudulent personal loan applications showed signs of first-party fraud in 2022? And that 50% of fraudulent SMB loan applications had first-party fraud signals too? While much attention has been paid to third-party fraud over the past few years, first-party fraud is equally as risky — but notoriously difficult to detect. With the power of AI and big data, however, fraud teams can uncover insights that will help them identify cases of first-party fraud before it hits their bottom line.