HelpNetSecurity.com reported the comments from John Buzzard (Lead Analyst, Fraud & Security, with Javelin Strategy & Research)”The pandemic prompted a significant shift in how criminals approach fraud,…Identity fraud has evolved and today reflects the spans offenders will take to immediately target consumers so as to sneak their personally identifiable data ” The March 24, 2021 post entitled”Total combined fraud losses climbed to $56 billion in 2020″ included those comments:
The international pandemic has had a remarkable impact on consumer financial behavior. Consumers spent more time in the home in 2020, transacted less than in previous years, and relied heavily on streaming services, digital payments and commerce. They also corresponded more via email and text, for the work and private life.
The decrease in trade activity, along with financial institutions’ more robust antifraud measures, made it harder for criminals to be successful in their customary fraud activities. They opted instead to interact directly with their fraud victims through identity fraud scams.
The scams can occasionally be averted when consumers are more sensitive to misspelled email addresses, questionable requests for money, or arbitrary messages via social websites from criminals claiming to represent a bank.
