A new Arkose Labs study revealed that in the first half of 2020, there were more than 1.1 billion online fraud attacks, double the attack volume compared to the second half of 2019 and a 25 percent attack rate increase across all transactions.
The vast majority (80 percent) of internal auditors are facing barriers to being involved in managing fraud risk, despite almost two thirds (62 percent) saying they had seen an increase in fraud incidents over the past five years, according to a new report by Kroll, The Institute of Internal Auditors (IIA) and Internal Audit Foundation.
As consumers increasingly turn to online shopping for essential and non-essential goods while at home, fraudsters have adapted their technique to use more sophisticated tactics against consumers, banks and merchants.
The Federal Trade Commission launched a new tool that explores data about problems military consumers may experience in the marketplace. For the first time, data about reports the FTC has received from active duty service members and veterans will be available online in an interactive dashboard at ftc.gov/explore data.
In recognition of the growing convergence of cyber and traditional financial crimes, the U.S. Secret Service is formally merging its Electronic Crimes Task Forces (ECTFs) and Financial Crimes Task Forces (FCTFs) into a single unified network, which will be known as the Cyber Fraud Task Forces (CFTFs).
In late January, the Department of Justice filed lawsuits seeking temporary restraining orders against five companies and three individuals, based on allegations that they had carried hundreds of millions of fraudulent robocalls to American consumers. Within days, the Federal Trade Commission (FTC) sent letters to 19 Voice over Internet Protocol providers to warn them that any assistance or facilitation of telemarketing through robocalls would be deemed to violate the new law.
The Portland, Ore. Police Bureau (PPB) is expanding the online reporting system to allow members of the community a more convenient way to report crimes and free up officers to respond to emergency calls.
The Internal Revenue Service (IRS) launched Identity Theft Central, designed to improve online access to information on identity theft and data security protection for taxpayers, tax professionals and businesses.
As this holiday season approaches, the Cybersecurity and Infrastructure Security Agency (CISA) encourages users to be aware of potential holiday scams and malicious cyber campaigns, particularly when browsing or shopping online.
According to a Federal Trade Commission survey, 15.9 percent of respondents were victims of fraud in 2017, which represents approximately 40 million U.S. adults.
