The state of fraud in the United States and Canada amid COVID-19 pandemic
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. LexisNexis Risk Solutions compiled these findings from a review of multiple studies it conducted in 2020. The consolidation of the report findings uncovers a perfect storm of trends that have impacted fraud throughout the past year and those that may linger into the new year.
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. While many believe that fraud victims are mostly the technologically naïve, 2020 validated that anyone can be a victim. LexisNexis Risk Solutions examined consumer behavior, popular fraud methods, social uncertainty due to the pandemic when compiling this data and suggests what organizations of all shapes and sizes can do to protect their business.