I’m excited to share the current Experian Commercial Pulse Report with you. I have the opportunity each week to analyze data on the millions of U.S. small businesses in Experian’s database and discover actionable insights that benefit our clients. Making these discoveries is rewarding work, and we utilize these insights to guide our recommendations. I thought I would share what I am watching through Experian’s bi-weekly Commercial Pulse Report (just bookmark the link; we will update it on a bi-weekly basis).
This week’s report contains some compelling insight into commercial fraud. In 2002, a Trustpair Institute for Finance & Management survey reported 56% of businesses had reported some sort of fraud attempt, in 2023 the survey shows 96% of businesses reporting fraud attempts.
What I’m watching:
- The growing financial fraud problem:
- Consumers lost a staggering $10 billion to fraud in 2022, marking a 14% increase from 2021.
- Already, a shocking 5 billion records were found on the dark web this year, matching the 2023 total.
- The economy grew 2.8% in Q2.
- The Fed leaves interest rates flat but leaves the door open for a potential cut at the September meeting.
That’s a quick take – Download the latest report.
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