As the Crisis Evolves, Fraudsters Adapt
High levels of vigilance must be maintained to ensure security and safety for businesses, their data, and their customers.
As we continue to process data during the ongoing pandemic crisis, it is already clear that as the virus continues to evolve, fraudsters are continuing to adapt. We are observing complexities that demand heightened vigilance and advanced contextual detection strategies.
Our data indicates that while people’s migration online has been relatively uniform across verticals as well as geographic regions, fraud rates across the platforms they’re increasingly relying on show a great deal of variability. Additionally, while it’s clear that fraud is “following” the geographic movement of the virus, different platforms are being impacted in different ways.
I discuss our data findings in depth in a new post titled “Tracking the Impact of Social Distancing and Shelter-in-Place Policies on Fraud Trends and Threats.”
Among the topics I cover are fraud trends on social platforms and mobile entertainment platforms. I show how, while traffic volumes are consistently up on these platforms, fraud rates vary greatly, with some numbers even going down.
I also look at changing mobility patterns across the globe, and detail how fraud rates are evidencing geographic dynamism, as well as delving into distinctions between rates of fraud vs. overall amount of fraud.
Finally, I highlight challenges associated with distinguishing fraud from normal behavior during periods of increasing behavioral changes, and discuss how advanced fraud solutions can address these challenges. As I note in my conclusion, “the virus isn’t the only fast-moving thing we need to stay ahead of — fraud threats are moving equally fast.”
The full article is available here.
