Visa UAE AI Shopping Fraud Study

Visa Inc. released its annual 'Stay Secure' study in the United Arab Emirates, conducted by Wakefield Research, revealing that 85 percent of consumers in the United Arab Emirates use AI tools for online shopping, primarily for checking reviews, comparing prices, and finding gift ideas. While 93 percent believe AI makes online shopping faster, only 32 percent trust AI to complete transactions. The study also highlighted the rapid growth of social commerce, with 69 percent of consumers making purchases through social media platforms, leading to increased fraud risks, as 46 percent experienced a financial scam in the past year, with 38 percent of those occurring on social media. Concerns about children's vulnerability to online scams were also raised. Consumers expect institutions like banks, financial institutions, government authorities, and payment providers to take primary responsibility for fraud prevention, with 60 percent desiring real-time alerts.