Security News > 2021 > March > How banks and banking customers can protect themselves against financial crimes
Account takeovers and online banking fraud are two types of attacks on the rise against financial institutions and their customers, says Feedzai.
Amid the coronavirus pandemic, 2020 saw a quick and abrupt transition to digital banking and commerce, a boon for banks and customers alike.
A financial crime report released Thursday by fraud prevention company Feedzai looks at some of the common types of attack and offers advice to financial institutions and their customers.
With this tactic, scammers contact people by phone, text, or email and claim to be from a government agency or financial institution.
The goal of the scam is simple: Convince the victim to make some type of payment, through which the attackers then gain access to the person's credit card or financial account.
Among other types of scams, online banking fraud was popular last year with a 250% rise amid a greater shift to mobile banking.