Fraud trends during the physical reopening of businesses
TransUnion’s latest quarterly analysis of global online fraud trends found that fraudsters are decreasing their schemes against businesses, but increasing COVID-19 focused scams against consumers online.
TransUnion found the percent of suspected fraudulent digital transactions against businesses worldwide decreased 9 percent 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, TransUnion’s Consumer Financial Hardship surveys found consumers targeted by digital COVID-19 schemes increased 10 percent from the early days of the pandemic (week of April 13) to more recently (week of July 27).