Online Frauds Flare-up by 25% in the US

Ranging from identity robbery to phishing attempts, the number of digital fraud attempts in the United States has been up to 25.07% in the first four months of the year 2021, compared to the last four months of the year 2020. According to a new report published from TransUnion, which found that while looking at some specific industries, digital fraud attacks against financial service companies have been amplified to 109% in the United States during that same period. Globally, the fraud attempts in this industry were up to 149%.

TransUnion has described digital fraud as any Online scam or fake transactions. These include schemes where fraudsters attempt to steal individuals’ personal information through social media networks and other Online websites and phishing attempts.

These events tend to happen when the cybercriminals start sending fake emails to the people that either attempt to recover any personal information or infect any device with malware or antivirus.Other financial service companies like banks and investment companies are mainly the most attractive targets of the scammers because there are vast amounts of dollars stored there.

Lately, people have been doing more Online transactions since the pandemic started, and the cybercriminals are very much aware of it, so they are attempting to trade-in.Fraudsters and scammers who have successfully gained victim’s personal information are taking it to another level by obtaining other information such as credit cards or taking over one’s bank accounts.