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COVID-19 And Fraud’s “New Normal”

– Forbes

  • Viewpoint
  • Posted by Good ID team (Good ID)
  • Via Bob Legters (Forbes)
  • 18 September 2020

Financial services expert Bob Legters warns that fraudsters have increased their traditional tactics, as well as taken advantage of new digital behaviors of unsuspecting internet users

Legters claims that the COVID-19 pandemic has presented new opportunities for old tricks like themed phishing attacks, ransomware, “carding” (using stolen credit card details), and account takeover (ATO).

“In addition to the rise in tried and true financial fraud tactics, there’s a new threat that’s been accelerated by shifting digital behaviors during the pandemic. Fraudsters are now taking a more subtle approach, piecing together your data from various sources over time. To put it simply: the new normal for fraud is to creep in, not burst in.”

Legters also warns that consumers and companies need to be “on guard” constantly, and recommends consumers and employees practice awareness, committing information with caution, looking for trusted logos, using secure one-click payments, and being wary of quizzes.

Anytime you go through change, fraud is going to be there and 2020 has certainly been a year of change. Fraudsters never take a break, so consumers and businesses always need to be on guard

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