Pandemic COVID-19 greatly expanded the use of American Internet services and scammers decided to take advantage of it. A new report of a company TransUnion showed that since the beginning of March the activity of scammers on the Internet increased by 11%. This writes FoxBusiness.
“Pandemic COVID-19 has created a unique and unprecedented challenges for the financial services industry and increased for many institutions, the threat level of fraud, said Executive Vice-President financial services TransUnion Jason Lucky. — As soon as financial institutions expand their digital presence to support consumers, it is crucial that they made the right decisions that protect their constituents ‘ customers.”
The report says that the increase in fraudulent activity can be associated with an increase in activity against a 250 per cent surge in digital transactions since the beginning of the pandemic.
Identity theft was the most common type of fraud the victims of which are customers of financial companies and TransUnion has registered a 23 percent increase in this type of fraud.
Most scammers create a fictitious identity, connecting stolen the real data of real people and false information, with intent to open fraudulent accounts.
“One of the most effective ways of reducing fraud of this type is to detect suspicious patterns or attributes in the process of opening and checking account. So pay attention to it,” said Shai Cohen, senior Vice President, global solutions fraud identification and TransUnion.
According to the company, fraud on the Internet still remains a serious problem. According to experts, about $1 billion were issued to fictitious persons in the form of loans for cars, personal loans or credit cards and still remain outstanding.
18 popular fraudulent above for online purchases and ways to protect against them can be found in our material.