COVID-19 Online Fraud Trends: Industries, Schemes and Targets
The telecommunications, retail and financial services industries have been increasingly impacted by COVID-19 online fraud, according to TransUnion.
From a consumer perspective, Millennials have been most targeted by fraudsters using COVID-19 scams.
Overall, the percent of suspected fraudulent digital transactions rose 5% from March 11 to April 28 when compared to Jan. 1 to March 10, 2020. More than 100 million risky transactions from March 11 to April 28 have been identified
Globally across industries, TransUnion found the countries with the highest percent of suspected fraudulent transactions were: 1) Yemen, 2) Syria and 3) Kazakhstan. In the U.S. overall, TransUnion found the cities with the highest percent of suspected fraudulent transactions were: 1) Springfield, Mass., 2) Akron, Ohio, and 3) Louisville, Ky.
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