Security News > 2022 > January > Buy now, pay later fraud, romance and cryptocurrency schemes top the list of threats this year

Experian released its annual forecast, which reveals five fraud threats for the new year.

With consumers continuing to take a digital-first approach to everything from shopping, dating and investing, fraudsters are finding new and innovative ways to commit fraud.

Without the right identity verification and fraud mitigation tools in place, fraudsters will take advantage of some BNPL companies and consumers in 2022.

In 2022, fraudsters will set up cryptocurrency accounts to extract, store and funnel stolen funds, such as the billions of stimulus dollars that were swindled by fraudsters.

Ransomware will be a significant fraud threat for companies in 2022 as fraudsters will look to not only ask for a hefty ransom to gain back control, but criminals will also steal data from the hacked company.

Consumers will get hit hard by fraudsters through social engineering and account takeover fraud.

News URL

https://www.helpnetsecurity.com/2022/01/26/fraud-threats-this-year/