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Online fraud against businesses drops, increases against consumers during reopening

26
Aug
2020
Online fraud against businesses drops, increases against consumers during reopening

image credit: pxhere

Fraudsters are decreasing their schemes against businesses, but increasing COVID-19 focused scams against consumers online, according to TransUnion.

Fraudsters less targeting businesses

The percent of suspected fraudulent digital transactions against businesses worldwide decreased 9% from the beginning of the pandemic (“phase 1,” March 11-May 18) to when businesses began reopening (“phase 2,” May 19-July 25). In contrast, consumers targeted by digital COVID-19 schemes increased 10% from the early days of the pandemic (week of April 13) to more recently (week of July 27).

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