Pandemic Phishing Scams a Top Conduit for Digital Fraud

Pandemic Phishing Scams a Top Conduit for Digital Fraud

July 23, 2020

Phishing is the top digital fraud scheme worldwide related to the Covid-19 pandemic, according to new research from TransUnion. 

The firm recently released its Consumer Financial Hardship Study and found that among global consumers who said they were targeted with digital Covid-19 schemes, 27 percent said they were hit with pandemic-themed phishing scams. 

TransUnion surveyed 7,384 adults in Canada, Colombia, Hong Kong, South Africa, the U.K., and the U.S. between June 30 and July 6, 2020. It asked the consumers if they had been targeted by digital Covid-19 fraud and if so, which digital fraud scheme(s) were they targeted with. 

“From the impacts of phishing and other well documented Covid-19 scams like unemployment fraud, it’s clear that fraudsters have the data and increasing opportunities to create synthetic identities and utilize stolen identities”

Globally, 32 percent said they had been targeted by digital fraud related to Covid-19. Besides phishing, third-party seller scams on legitimate online retail websites (21 percent), shipping fraud (14 percent), stolen credit card or fraudulent charges (13 percent) and account takeovers (11 percent) were some of the other top online Covid-19-related scams targeting consumers.

“From the impacts of phishing and other well documented Covid-19 scams like unemployment fraud, it’s clear that fraudsters have the data and increasing opportunities to create synthetic identities and utilize stolen identities,” said Shai Cohen, senior vice president of Global Fraud & Identity Solutions at TransUnion. “Identity fraud is a primary way fraudsters leverage stolen consumer data from phishing and other social engineering schemes.”

Previous-Article-CNP  Next-Article-CNP

Bot and ATO Attacks: How They're Related and What You Can Do

 

  • Share this Article:
Joan Goodchild

Lastest Fraud News