India's financial fraud risk is shifting from a volume problem to one involving fewer but potentially larger cases, according to a new report by Experian.The company's The New Frontier: Emerging Trends in Fraud Prevention report, citing RBI's Annual Report 2025-26, said the value involved in reported or suspected fraud rose nearly fourfold from Rs 12,230 crore in FY24 to Rs 48,021 crore in FY26, even as the number of cases declined.The shift points to a growing role for organised fraud networks involving identity misuse, synthetic identities, mule accounts and false borrower information. Fraudsters are also increasingly using technology and AI, making it harder for lenders to detect suspicious activity.Credit cards continue to show the highest anomaly rates among major retail lending products, while personal, auto and business loans also show vulnerabilities. Misrepresentation of income, employment, identity and contact details remains a key concern.Experian said lenders are increasingly using application-level analytics, behavioural data and alternative data to identify fraud earlier. Its analysis found that these risk indicators can provide stronger signals of anomaly risk than traditional credit scores alone.Among organisations already using machine-learning-based fraud solutions, 58% reported a better ability to identify emerging fraud types, while 54% saw improved detection accuracy. Another 56% said passive fraud checks reduced friction for genuine customers."Fraud prevention can no longer be viewed as a standalone control function. It must become an integral part of decision-making across the customer lifecycle," Manish Jain, country managing director, Experian India, said.The report said lenders will increasingly need data-led, continuous fraud monitoring as digital lending and online onboarding expand.