The Philippines recorded a suspected digital fraud rate of 13.4 percent in 2024, making it the second highest globally among countries analyzed by TransUnion’s global intelligence network—trailing only India (19 percent) and surpassing the Dominican Republic (10.9 percent).
This figure is more than double the global average of 5.4 percent and marks the fifth consecutive year the Philippines has exceeded worldwide fraud levels. The rate also rose 5 percent from 2023, contrasting starkly with the 8 percent global decline, according to TransUnion’s H1 2025 State of Omnichannel Fraud Report.
The economic and social impact of these fraud trends is considerable. Three out of four Filipinos (74 percent) reported being targeted by fraud schemes via email, calls, texts, or online in late 2024—well above the global average of 53 percent. Additionally, 34 percent of Filipinos reported financial losses, topping the global rate of 29 percent. The average loss of USD768 (approx. P44,700) is equivalent to more than two months’ wages for many households, amplifying its economic significance.
“While losses in the Philippines are below the global median, the relative financial impact is more acute due to local income levels,” said Yogesh Daware, chief commercial officer of TransUnion Philippines.
Industry-specific analysis revealed online communities, including dating and social platforms, as the most targeted segment, with a 19.2 percent suspected fraud rate—66 percent higher than the global average of 11.6 percent. This trend underscores how the country’s 78 percent social media penetration is being exploited by fraudsters. Retail followed at 13 percent, and financial services at 6.3 percent, although fraud in the latter dropped 35 percent year-over-year, a potential sign of success from recent joint public-private anti-fraud efforts.
In 2024, TransUnion launched the Fraud Industry Council (FIC) to support these initiatives and foster cooperation among Philippine financial institutions to safeguard consumers amid escalating fraud risks.
