In this episode of Insights in Action, David Britton, Vice President of Global Identity & Fraud Solutions, discusses how the Covid-19 pandemic has prompted a massive shift to online for both consumers and businesses, and examines what implications have emerged across the online fraud landscape because of this.
“As with any moment like Covid-19, fraudsters are very quick to pick up on possible areas of vulnerability that they can exploit in the market and in the ecosystem. And fraudsters always like to go where the weakest point is in the ecosystem or the weakest link in the chain. So fraudsters are absolutely taking advantage of this.”
David Britton
- Phishing is on the rise – fraudsters are impersonating key institutions and their communication channels to manipulate consumers
- Account takeover fraud – fraudsters are hiding in the traffic peak, posing as consumers using their credentials
How businesses can counter the trend:
- Keeping online fraud at bay
- Securing our digital identities
- Ensuring a secure, transparent and meaningful treatment of data
“The first thing to do is to ensure businesses are pulling together soft signals to define a better risk strategy and authentication strategy because then you can immediately identify if there’s an anomolous actor that’s trying to impersonate that ‘known’ good customer.”
David Britton
