Fraud losses climbed to $56 billion in 2020 and identity fraud scams accounted for a staggering $43 billion of that cost, according to a new report. The reduction in transaction activity in 2020, combined with financial institutions’ more robust antifraud measures, made it harder for criminals to succeed in their ‘traditional’ fraud activities, according to […]
Posts Tagged ‘Fraud’
Despite newly created opportunities for fraudsters to rip-off unsuspecting citizens during the ongoing pandemic, tech support scams inflicted nearly $150 million in reported losses in 2020. According to the 2020 Internet Crime Report, the FBI’s Internet Crime Center received 15,421 fraudulent tech support complaints from victims in 60 countries – a 171% increase from 2019. […]
Category Cyber-crimePhishing
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The PlayStation 5 console went on sale last November, but many hopeful shoppers are still empty-handed. Sony, suffering a chip shortage as a result of COVID-associated supply restrictions, cannot keep pace with demand. Meanwhile, scammers are moving in to take advantage of the hype by offering the chance to win a PS5. Win a PS5 […]
Category Cyber-crimePhishing
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