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phishing attack using coronavirus Source: Shutterstock.

In the year since the pandemic began, fraudulent digital transaction attempts against businesses increased 46% worldwide – and 22% in the U.S. specifically – compared to the previous 12 months, according to TransUnion’s latest quarterly analysis of global online fraud trends.

And during the time periods studied by TransUnion (March 11, 2019 to March 10, 2020 versus March 11, 2020 to March 10, 2021), the financial services industry saw the second-highest increase in suspected digital fraud attempts out of nine industries analyzed – 57.49% – just behind the telecommunications industry, which saw a 57.52% increase. Identity theft was the top type of fraud attacking the financial services industry, the company said.

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Natasha Chilingerian

Natasha has served as an editor for CU Times since March 2015. She also served as a communications specialist for Xceed Financial Credit Union in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer for more than 14 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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