Security News > 2023 > June > A new wave of sophisticated digital fraud hits Europe

In Germany alone, forced verification grew by 1500% as a proportion of all fraud cases, from 0.3% in the full year 2022 to 5% of all fraud in Q1 2023.

In Great Britain and Europe, as well as in North America, the proportion of deepfakes among all fraud cases grew considerably from 2022 to Q1 2023.

The highest fraud was noticed in the shared mobility industry; From Q1 2022 to Q1 2023, like in the UK, fraud rates in consulting multiplied - from 1.3% to 4% in Germany, from 0.4% to 2.8% in France, and from 1.4% to 3.6% in Spain).

Last quarter the proportion of fraud in crypto and fintech was noticeable as well, constituting over 2% in Spain and over 1.1% in Germany, whereas in France crypto fraud grew from 1.8% to 3.8% in Q1 2023 compared to Q1 2022.

Last quarter, the top three fraud types in both the UK and EU were identity document forgery, liveness bypass and edited ID card.

In 2022, the most popular hour for committing fraud in the UK was 2 p.m. GMT, and in Q1 2023, it was 12 p.m. In Great Britain, the lowest amount of fraud happened at 4-5 a.m. GMT in 2022-2023.

News URL

https://www.helpnetsecurity.com/2023/06/05/forced-verification-digital-fraud/