{"id":535299,"date":"2021-09-08T06:03:10","date_gmt":"2021-09-08T10:03:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fraudsters-in-canada-shift-focus-to-travel-and-leisure\/"},"modified":"2021-09-08T06:03:10","modified_gmt":"2021-09-08T10:03:10","slug":"fraudsters-in-canada-shift-focus-to-travel-and-leisure","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fraudsters-in-canada-shift-focus-to-travel-and-leisure\/","title":{"rendered":"Fraudsters in Canada Shift Focus to Travel and Leisure"},"content":{"rendered":"

\nTransUnion reveals suspected digital fraud attempt growth rate coming from Canada more than twice global percentage
\n<\/h2>\n
\n

TORONTO, Sept. 08, 2021 (GLOBE NEWSWIRE) — As the prevalence of digital fraud attempts on businesses and consumers continues to rise, TransUnion\u2019s (NYSE: TRU) newest quarterly analysis found that fraudsters are re-focusing their efforts from financial services to the travel and leisure and gaming industries.<\/p>\n

Across industries, the rate of suspected digital fraud attempts1<\/sup> rose 16.5% globally when comparing Q2 2021 to Q2 2020. In Canada, the percentage of digital fraud attempts increased at a much higher rate of 44.9% during the same time period. Gaming and travel and leisure were the two most impacted industries globally for the suspected digital fraud attempt rate, rising 393.0% and 155.9% in the last year, respectively. In Canada, this rate rose 209.8% for gaming and 216.1% for travel and leisure.<\/p>\n

TransUnion monitors digital fraud attempts reported by businesses in varied industries such as gambling, gaming, financial services, healthcare, insurance, retail and travel and leisure, among others. The conclusions are based on intelligence from billions of transactions and more than 40,000 websites and apps contained in its flagship identity proofing, risk-based authentication and fraud analytics solution suite \u2013 TransUnion TruValidate\u2122<\/a>.<\/p>\n

\u201cIt is quite common for fraudsters to shift their focus every few months from one industry to another,\u201d said Anne-Marie Kelly, head of Market Development, Identity Management and Fraud Solutions at TransUnion. \u201cFraudsters tend to seek out industries that may be seeing an immense growth in transactions. This quarter, as countries began to open up more from their COVID-19 lockdowns and travel and other leisure activities became more mainstream, fraudsters clearly made this industry a top target. The immense growth in gaming fraud also can likely be attributed to the shifts in focus of fraudsters as this growing market becomes a larger target.\u201d<\/p>\n

An example of the shift in focus of fraudsters can be seen in financial services. Global financial services suspected online fraud attempt rates had risen 149% when comparing the first four months of 2021 and the last four months of 2020. But when comparing Q2 2021 and Q2 2020, the rate of suspected online financial services fraud attempts have still risen, but at a much lower rate of 18.8% globally and 29.7% in Canada.<\/p>\n

\n
\n Global Industry Year-over-Year Suspected Digital Fraud Attempt Rate Increases and Declines in Q2 2021 <\/em>
\n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n
\n Industry<\/strong>\n <\/td>\n\n Suspected Fraud
Percentage
Change<\/strong>\n <\/td>\n		\n Top Type of Fraud<\/strong>\n <\/td>\n<\/tr>\n
\n
\n Largest Percentage Increases<\/em>
\n <\/strong>\n <\/td>\n<\/tr>\n
\n Gaming<\/strong>\n <\/td>\n393.0%<\/td>\n\u00a0<\/td>\nGold Farming<\/td>\n<\/tr>\n
\n Travel & Leisure<\/strong>\n <\/td>\n155.9%<\/td>\n\u00a0<\/td>\nCredit Card Fraud<\/td>\n<\/tr>\n
\n Gambling<\/strong>\n <\/td>\n\n 36.2<\/em>
\n %<\/em>\n <\/td>\n		\u00a0<\/td>\nPolicy\/License Agreement Violations<\/td>\n<\/tr>\n
\n
\n Largest Percentage Declines<\/em>
\n <\/strong>\n <\/td>\n<\/tr>\n
\n Logistics<\/strong>\n <\/td>\n-49.2%<\/td>\n\u00a0<\/td>\nShipping Fraud<\/td>\n<\/tr>\n
\n Telecommunications<\/strong>\n <\/td>\n-30.8%<\/td>\n\u00a0<\/td>\nTrue Identity Theft<\/td>\n<\/tr>\n
\n Insurance<\/strong>\n <\/td>\n-16.7%<\/td>\n\u00a0<\/td>\nSuspected Ghost Broker<\/td>\n<\/tr>\n<\/table>\n

\n
\n Industry Year-over-Year Suspected Digital Fraud Attempt Rate Increases and Declines in Q2 2021 Coming from Canada <\/em>
\n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\n Industry<\/strong>\n <\/td>\n\n Suspected Fraud
Percentage
Change<\/strong>\n <\/td>\n		\n Top Type of Fraud<\/strong>\n <\/td>\n<\/tr>\n
\n
\n Largest Percentage Increases<\/em>
\n <\/strong>\n <\/td>\n<\/tr>\n
\n Travel & Leisure<\/strong>\n <\/td>\n216.1%<\/td>\n\u00a0<\/td>\nCredit Card Fraud<\/td>\n<\/tr>\n
\n Gaming<\/strong>\n <\/td>\n209.8%<\/td>\n\u00a0<\/td>\nGold Farming<\/td>\n<\/tr>\n
\n Retail<\/strong>\n <\/td>\n139.4%<\/td>\n\u00a0<\/td>\nInappropriate Content<\/td>\n<\/tr>\n
\n Logistics<\/strong>\n <\/td>\n\n 90.3<\/em>
\n %<\/em>\n <\/td>\n		\u00a0<\/td>\nShipping Fraud<\/td>\n<\/tr>\n
\n
\n Largest Percentage Declines<\/em>
\n <\/strong>\n <\/td>\n<\/tr>\n
\n Telecommunications<\/strong>\n <\/td>\n-97.2%<\/td>\n\u00a0<\/td>\nTrue Identity Theft<\/td>\n<\/tr>\n
\n Gambling<\/strong>\n <\/td>\n\n -39.8%<\/em>\n <\/td>\n\u00a0<\/td>\nPolicy\/License Agreement Violations<\/td>\n<\/tr>\n
\n Communities (Online dating,
forums, etc.)<\/strong>\n <\/td>\n		\n -22.2%<\/em>\n <\/td>\n\u00a0<\/td>\nProfile Misrepresentation<\/td>\n<\/tr>\n<\/table>\n

\n
\n More than one-third of consumers continue to be targeted by COVID-19 related digital fraud<\/em>
\n <\/strong>\n <\/p>\n

As online fraud attempts against businesses continue to escalate, one in three consumers stated that they have been targeted by a digital fraud scheme related to COVID-19 during the second quarter of 2021. TransUnion\u2019s Consumer Pulse study<\/a> in June 2021 found that approximately 36% of global survey respondents said they were targeted by fraudsters in COVID-19 related digital schemes. The same percentage of respondents (36%) in Canada also said they were targeted.<\/p>\n

Phishing is the top type of COVID-19 related digital fraud impacting global consumers in Q2 2021. Phishing is a cybercrime that uses methods like email, text messages and websites to steal personal information, which criminals use to commit identity and financial crimes. Among global consumers who say they were targeted with COVID-19-related digital fraud, 33% state they have been targeted by or fallen victim to such fraud. Stolen credit card or fraudulent charges was the second most cited type of COVID-19 related online fraud among those targeted, affecting global consumers at 24%. In Canada, phishing was number one at 41% followed by stolen credit card or fraudulent charges at 25%.\u00a0\u00a0<\/p>\n

\u201cMore than one in three Canadians surveyed have been targeted by or fallen victim to digital fraud during the pandemic, placing even more pressure on businesses to ensure their customers are confident in transacting with them,\u201d said Kelly. \u201cAs fraudsters continue to target consumers, it\u2019s incumbent on businesses to do all that they can to ensure their customers have an appropriate level of security to trust their transaction is safe all while having a friction-right experience to avoid shopping cart abandonment.\u201d<\/p>\n

More information about TransUnion\u2019s quarterly digital fraud analysis can be found here<\/a>.<\/p>\n

\n About TransUnion (NYSE: TRU)<\/strong>
\n
TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing a comprehensive picture of each person so they can be reliably and safely represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good.\u00ae TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people in more than 30 countries. Our customers in Canada comprise some of the nation\u2019s largest banks and card issuers, and TransUnion is a major credit reporting, fraud, and analytics solutions provider across the finance, retail, telecommunications, utilities, government and insurance sectors.<\/p>\n

For more information visit:\u00a0www.transunion.ca<\/a><\/p>\n

\n

\n 1<\/sup> The percent or rate of suspected or risky fraudulent digital transaction attempts are based on those that TransUnion customers receiving TruValidate services have either denied or reviewed due to fraudulent indicators compared to all transactions it assessed for fraud.<\/p>\n\n\n\n\n
\n Contact<\/strong>\n <\/td>\nFiona Bang<\/td>\n<\/tr>\n
\n E-mail<\/strong>\n <\/td>\n\n Fiona.Bang@ketchum.com<\/a>\u00a0<\/td>\n<\/tr>\n
\n Telephone<\/strong>\n <\/td>\n647-680-2885<\/td>\n<\/tr>\n<\/table>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

TransUnion reveals suspected digital fraud attempt growth rate coming from Canada more than twice global percentage TORONTO, Sept. 08, 2021 (GLOBE NEWSWIRE) — As the prevalence of digital fraud attempts on businesses and consumers continues to rise, TransUnion\u2019s (NYSE: TRU) newest quarterly analysis found that fraudsters are re-focusing their efforts from financial services to the travel and leisure and gaming industries. Across industries, the rate of suspected digital fraud attempts1 rose 16.5% globally when comparing Q2 2021 to Q2 2020. In Canada, the percentage of digital fraud attempts increased at a much higher rate of 44.9% during the same time period. Gaming and travel and leisure were the two most impacted industries globally for the suspected digital fraud attempt rate, … <\/p>\n

Continue reading “Fraudsters in Canada Shift Focus to Travel and Leisure”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-535299","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFraudsters in Canada Shift Focus to Travel and Leisure - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fraudsters-in-canada-shift-focus-to-travel-and-leisure\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fraudsters in Canada Shift Focus to Travel and Leisure - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TransUnion reveals suspected digital fraud attempt growth rate coming from Canada more than twice global percentage TORONTO, Sept. 08, 2021 (GLOBE NEWSWIRE) — As the prevalence of digital fraud attempts on businesses and consumers continues to rise, TransUnion\u2019s (NYSE: TRU) newest quarterly analysis found that fraudsters are re-focusing their efforts from financial services to the travel and leisure and gaming industries. Across industries, the rate of suspected digital fraud attempts1 rose 16.5% globally when comparing Q2 2021 to Q2 2020. In Canada, the percentage of digital fraud attempts increased at a much higher rate of 44.9% during the same time period. 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