TORONTO, August 6, 2020 (GLOBE NEWSWIRE) – A re-examination of consumer financial hardship studies through TransUnion LLC (NYSE: TRU) has revealed that phishing is the world’s leading virtual fraud scheme connected to the COVID-19 pandemic. Of the customers who reported being attacked through COVID-19 virtual systems worldwide, 27% reported being affected by pandemic phishing scams. To help you avoid identity fraud that would possibly result from phishing, TransUnion uses responses within its flagship IDVision product with the iovation suite that in identity verification, customer authentication, and fraud save you money.
“Based on the effects of phishing and other well-documented COVID-19 scams, such as unemployment fraud, it is transparent that fraudsters have the knowledge and expanding opportunities to create artificial identities and use stolen identities,” said Anne-Marie Kelly, vice president. , Market Development, Identity Management and Fraud Solutions for TransUnion. “According to the Canadians surveyed, identity fraud is the number one medium through which fraudsters take credit for the customer’s knowledge stolen by phishing, the maximum risk not unusual in Canada, and other social engineering schemes. This can have long-term effects for customers, such as the commitment of several online accounts and the decrease in credit ratings, which we will accumulate during the reconstruction of the pandemic ».
To better understand the impacts of COVID-19 on consumers, TransUnion surveyed 7,384 adults in Canada, Colombia, Hong Kong, South Africa, the U.K., and the U.S. between June 30 and July 6, 2020. It asked the consumers if they had been targeted by digital COVID-19 fraud and if so, which digital fraud scheme(s) related to COVID-19 were they targeted with. Globally, 32% said they had been targeted by digital fraud related to COVID-19 with the below being the top types of COVID-19 fraud they faced:
Top online scams to COVID-19 consumers
“While systems could vary from country to country, a new identity verification technique is needed to complement classic authentication strategies to protect against their impact,” Kelly said. “The key is to create a direct fun in which consumers are convinced that they are dealing with a valid organization or business.”
TransUnion’s functions to combat identity fraud
IDVision® with iovation®, TransUnion’s flagship suite of identity verification, customer authentication, and fraud prevention solutions, combines virtual and non-public knowledge into one of the world’s most comprehensive knowledge identity platforms.
“Given the accelerated virtual transformation of the recent pandemic, it’s more important than ever to make sure you accept an undeniable visitor with an undeniable visitor who enjoys eliminating the desire for companies to manually review transactions,” said Shirley Inscoe, senior analyst at generation analyst. Aite Group.
For more key points on TransUnion identity control and fraud solutions, click here. To download TransUnion’s studies on admission issues, click here.
About TransUnion (NYSE: TRU) TransUnion is a global data and intelligence company that makes trust imaginable in the fashion economy. We do this by offering a complete picture of each user so that they can be represented reliably and safely in the market. As a result, businesses and consumers can transact with confidence and accomplish wonderful things. We call it Information for Good.® TransUnion provides answers that assistance creates economic opportunities, wonderful reports and non-public empowerment for millions of people in more than 30 countries. Our customers in Canada come with some of the country’s largest banks and card issuers, and TransUnion is a leading provider of credit reporting, fraud and analytical responses in the financial, retail, telecommunications, utilities, government and insurance sectors.