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Major shifts and the growing risk of identity fraud

Traditional identity fraud losses, caused by criminals illegally using victims’ information to steal money, exploded in 2021 to $24 billion — an alarming 79% increase over …

fraud detection
How to identify and combat online fraud

As the popularity of Buy Now, Pay Later (BNPL) grows, organizations and consumers must remain vigilant or risk becoming a victim of fraud, as account takeover attacks – where …

Fraud losses
Online payment fraud losses to exceed $343 billion

Cumulative merchant losses to online payment fraud globally between 2023 and 2027 will exceed $343 billion, according to Juniper Research. As a comparison, this equates to …

money
The proliferation of money mules and how behavioral biometrics can combat this form of fraud

In the first half of 2022, BioCatch estimates fraudulent transfers to money mule accounts totaled $3 billion and that there are approximately 2 million mule accounts in the …

Who are the best fraud fighters?

Seasoned fraud expert PJ Rohall has recently become the new Head of Fraud Strategy & Education at SEON. In this Help Net Security interview, he talks about how he entered …

person
Evolving online habits have paved the way for fraud. What can we do about it?

Information is power, and personally identifiable information (PII) is an extremely powerful asset that is fueling the rapid growth of online fraud (also known as the Digital …

bank
Attack methods using hybrid bots enable criminals to open mule accounts at scale

During the first half of 2022, BioCatch data reveals that money mule accounts represent up to 0.3 percent of accounts held by financial institutions, and an estimated $3 …

money
How financial institutions are improving customer experience with fraud prevention measures

Fraud is a persistent threat, and there’s no end in sight as the e-commerce landscape continues to evolve and the use of online payment platforms increases. According to one …

iPhone
Fraud trends and scam tactics consumers should be aware of

If it seems like you’re receiving more spam than normal, you probably are. Seventy-four percent of consumers say they have received a scam text so far this year, while as many …

mask
Pandemic-related identity fraud: How serious is it?

The Identity Theft Resource Center (ITRC) and LexisNexis Risk Solutions have released the Pandemic-Related Identity Fraud Crime Victim Impacts Report, which shows how …

BEC scams
Language-based BEC attacks rising

Armorblox released a report which highlights the use of language-based attacks that bypass existing email security controls. The report uncovers how the continued increase in …

criminal
57% of all digital crimes in 2021 were scams

Group-IB shares its analysis of the landscape of the most widespread cyber threat in the world: scams. Accounting for 57% of all financially motivated cybercrime, the scam …

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