Banks, telcos, e-commerce players hurt the most by fraud: report (Amended)

Singapore

FINANCIAL services, telecommunications and e-commerce are the three industries that incur the most losses due to fraud and identification (ID) thefts in the region.

And the cost of fraud on businesses is projected to rise, driven by growth in the use of the Internet, mobile and e-commerce, as well as riskier Internet domains, said Experian, an FTSE 100 global information agency based in Dublin.