Security News > 2020 > May > 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.

"Given the billions of people globally that have been forced to stay at home, industries have been disrupted in a way not seen on this massive of a scale for generations," said Shai Cohen, Senior VP of Global Fraud & Identity Solutions at TransUnion.

Examining fraud types and their impact on industries.

"Our data shows that as social distancing changes shopping patterns, fraudsters have taken notice and targeted the more digital forward industries while following the money," said Melissa Gaddis, senior director of customer success for TransUnion Global Fraud & Identity Solutions.

Nearly three out of 10 respondents said they had been targeted by digital fraud related to COVID-19, with Millennials being the most targeted at 34%. Furthermore, consumers who said their household income is being negatively impacted by the COVID-19 pandemic are more likely to experience digital fraud with 32% reporting being targeted by online COVID-19 scams compared to 22% of people not financially impacted.

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