The $2 Trillion
Trust Crisis
Every 14 seconds, fraud costs American organizations $76,000. Current data systems detect less than 5% of fraudulent activities before payment—after the damage is already done.
In a digital economy built on data, trust has become our most valuable—and most vulnerable—asset. From Medicare fraud stealing billions from taxpayers to insurance claims manipulation costing families their coverage, our current "detect after damage" approach is failing catastrophically. The question isn't whether your organization will face fraud—it's whether you'll prevent it or just discover it too late.
The Scale of the Crisis
Fraud Is Winning Because Detection Isn't Prevention
“The average fraud goes undetected for 14 months. By the time you find it, the money is gone, the damage is done, and the fraudster has moved on to the next victim.”
-Dr. Steve Albrecht, Fraud Expert and Former FBI Agent
$1.2 trillion
global trade in counterfeit goods annually
$7.5 billion
in Social Security overpayments annually
$40 billion
in property insurance fraud annually
$68 billion
lost annually to private insurance fraud
Government & Public Sector
$308
billion
annual cost to American taxpayers from healthcare fraud
Medicare & Medicaid Fraud:
$65 billion in Medicare improper payments in 2023 alone
7-14% of all Medicare spending goes to fraudulent claims
Less than 5% of fraud caught before payment processing
$308 billion annual cost to American taxpayers from healthcare fraud
Social Security & Benefits Fraud:
$7.5 billion in Social Security overpayments annually
2.8 million potentially fraudulent disability claims under review
Identity theft affecting 1.4 million Social Security numbers yearly
Unemployment fraud reached $163 billion during pandemic
+44%
Increase
in Medicare fraud for 2023 alone
<5%
Detection
in all government fraud incidents
Healthcare & Medical Systems
Patient Record Manipulation:
Medical identity theft affects 2.3 million Americans annually
Prescription fraud costs $72.5 billion per year
Billing manipulation in 25% of audited medical practices
Patient safety risks from altered medical histories
Insurance Claims Fraud:
$68 billion lost annually to private insurance fraud
30% of all insurance claims contain some fraudulent element
Ghost patients and phantom procedures cost $40 billion yearly
Average fraud detection time: 14 months after initial claim
$68
billion
lost annually to private insurance fraud
+190%
Increase
in prescription drug fraud since 2014
<15%
Detection
before payment delivered
“Fraud is a $5 trillion industry globally. It's bigger than the GDP of Japan. We're not fighting individual criminals anymore—we're fighting an entire economy built on deception.”
-Tom Kellermann, Former World Bank Cybersecurity Expert
Financial Services & Insurance
Banking & Payment Fraud:
$38.3 billion lost to payment fraud in 2022
68% of organizations report increasing vulnerability
Check fraud up 84% year-over-year
Digital payment fraud growing 40% annually
Banking & Payment Fraud:
$38.3 billion lost to payment fraud in 2022
68% of organizations report increasing vulnerability
Check fraud up 84% year-over-year
Digital payment fraud growing 40% annually
Supply Chain & Manufacturing
Counterfeit Products:
$1.2 trillion global trade in counterfeit goods annually
10-15% of automotive parts are counterfeit
Pharmaceutical counterfeits cause 200,000+ deaths yearly
Electronics fraud affects 70% of global supply chains
Documentation Fraud:
Certificate forgery in 30% of international shipments
Origin manipulation costs manufacturers $15 billion annually
Quality testing fraud leads to product recalls costing billions
Supplier verification failures affecting 85% of Fortune 500 companies