Security News > 2021 > March > The war against the virus also fueling a war against digital fraud

TransUnion's latest analysis of global online fraud trends found that since the COVID-19 pandemic began, fraudsters are increasing their rate of digital schemes against businesses.

A recent study found that more than one in three global consumers have recently been targeted by digital fraud related to COVID-19.

Billions of transactions illustrate a war against digital fraud.

"By analyzing billions of transactions we screened for fraud indicators over the past year, it has become clear that the war against the virus has also brought about a war against digital fraud."

Similarities were observed in the U.S. where Gen Z was most targeted at 53% followed by Millennials at 40%. "TransUnion documented a 21% increase in reported phishing attacks among consumers who were globally targeted with COVID-19-related digital fraud just from November 2020 to recently," said Melissa Gaddis, senior director of customer success, Global Fraud Solutions at TransUnion.

TransUnion analyzed the below industries for a change in the percent of suspected digital fraud attempts against them, comparing the periods of March 11, 2019-March 10, 2020 and March 11, 2020-March 10, 2021.

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