Cyber Fraudsters Key in On Gaming, Travel and Leisure
August 11, 2021
the prevalence of digital fraud attempts on businesses and consumers continues
to rise, TransUnion’s newest quarterly analysis found that fraudsters are
re-focusing their efforts from financial services to the travel and leisure and
Global Industry Year-over-Year Suspected Digital Fraud Attempt Rate Increases and Declines in Q2 2021
More than one-third of consumers continue to be targeted by COVID-19 related digital fraud
As online fraud attempts against businesses continue to escalate, one in three consumers stated that they have been targeted by a digital fraud scheme related to COVID-19 during the second quarter of 2021. TransUnion’s Consumer Pulse study in June 2021 found that approximately 36% of global survey respondents said they were targeted by fraudsters in COVID-19 related digital schemes. Nearly four in 10 (39%) U.S. respondents said they were targeted.
Phishing is the No. 1 type of COVID-19 related digital fraud impacting global consumers in Q2 2021. Among global consumers who say they were targeted with COVID-19-related digital fraud, 33% state they have been targeted by or fallen victim to such fraud. Stolen credit card or fraudulent charges was the second most cited type of COVID-19 related online fraud among those targeted, affecting global consumers at 24%. Phishing was No. 1 in the U.S. at 35% followed by stolen credit card or fraudulent charges at 31%.
“One in three people globally have been targeted by or fallen victim to digital fraud during the pandemic, placing even more pressure on businesses to ensure their customers are confident in transacting with them,” said Melissa Gaddis, senior director of customer success, Global Fraud Solutions at TransUnion. “As fraudsters continue to target consumers, it’s incumbent on businesses to do all that they can to ensure their customers have an appropriate level of security to trust their transaction is safe all while having a friction-right experience to avoid shopping cart abandonment.”