There are multiple factors contributing to the rise in fraud - or at least, the emergence of new fraud approaches: people are clearly distracted by the public health emergency, new payment approaches are being used by many, aid is being funnelled to new targets, and stimulus packages are resulting in new payments to individuals and companies. We need to be agile in our response - refocusing our anti fraud measures on the new threats, and focusing our people on the need to be vigilant and cautious in an unfamiliar working environment.
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Fraud prospers in a crisis
Never have we been so attractive as targets for fraudsters and scammers as we are right now.
That’s because the uncertainty around the coronavirus pandemic has created more opportunities for robocallers, hackers and other thieves.
For one thing, millions of people are filing new claims for unemployment benefits and awaiting stimulus checks. So when a phone call or an email from someone purporting to be a bank or a government official comes in, it is tougher for us to ignore.
Plus with so many people being required to work from home, our personal tech devices have become an attractive target for those looking to infiltrate businesses.
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