LexisNexis Risk Solutions unveiled findings on the current State of Fraud, detailing key fraud trends occurring in 2020 for organizations in the United States and Canada while also looking ahead at what to expect in 2021. The COVID-19 pandemic caused 2020 to be a year of unique circumstances and disruption to the global economy. One thing that has stayed the same is fraudsters' willpower to gain access to money and confidential information.
We speak to Pamela Verick, a Director in the Investigations and Fraud Risk Management group at global consulting firm Protiviti, to discuss how organizations across various industries can strengthen their fraud risk assessments from a cyber fraud perspective.
To help businesses prepare for fraudulent activity in 2021, Experian’s Future of Fraud Forecast highlights five fraud threats businesses should be aware of this year:
Relying on outdated fraud prevention and identification measures will no longer cut it, and businesses that don’t adapt will lag. As people continue to work, collaborate and socialize via their mobile devices, businesses must equip themselves with technology and tools that will prioritize fraud prevention. If not, companies risk losing their customers to those who have invested in more robust solutions.
TransUnion released new findings around online retail trends during the start of the 2020 global holiday shopping season. The research shows a 1% decrease in suspected online retail fraud worldwide during the start of the 2020 holiday shopping season compared to the same period in 2019, a 59% increase from the same period in 2018 and a 14% increase from all of 2020 so far. The findings are based on the same-store sales analysis of TransUnion’s e-commerce customers during the traditional start of the global holiday shopping season, Thanksgiving to Cyber Monday.
How is the current COVID-19 pandemic affecting fraud levels, and what can firms do to protect their employees and customers? Below, we talk to Omri Kletter, VP, Cyber Crime and Fraud Management at Bottomline, about best practices for managing risk and cyber threats in the payments process more broadly.
Authentic8 released the results of its 2020 Global Financial Crimes Survey, conducted in partnership with the Association of Certified Financial Crime Specialists (ACFCS).
To meet modern day challenges and address the evolving retail bank landscape, Origin Bank embraces innovative technology and solutions that boost efficiencies, reduce fraud and enhance service. The organization considers the protection of its clients’ assets to be paramount and strives to deliver a safe banking experience.
A new Arkose Labs study revealed that in the first half of 2020, there were more than 1.1 billion online fraud attacks, double the attack volume compared to the second half of 2019 and a 25 percent attack rate increase across all transactions.
