Digital Trust in Industry 4.0 & 5.0: Impact of Frauds

Digital trust in Industry 4.0 and 5.0 is a crucial aspect. The digital age is working in real-time; agility is required in this digital era. The digital nature of businesses has bought significant changes such as transparency, advancement in technological usage, and, most notably, customer experience. The focus of this study is the impact of fraud that may occur in Industry 4.0 & 5.0 as an element of digital trust that must be secured. A secondary research method to understand digital trust, industry 4.0 & 5.0 and fraud, with ramifications on repute while organisations try their best to protect data and information. Maintaining digital trust achieved by mitigating the risk of fraud using various techniques is discussed here by its priority and digital transformation of technologies to achieve trust with discussion on types of fraud and their mitigation practices. The implications are far-reaching for organisations and society where the bar is raised to keep unwanted attention and frauds kept at bay in the standardisation by way of technological transformations for the satisfaction of consumers and have a sense of responsibility as the practitioners, policymakers and organisations.