{"id":687870,"date":"2022-09-22T06:03:30","date_gmt":"2022-09-22T10:03:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\/"},"modified":"2022-09-22T06:03:30","modified_gmt":"2022-09-22T10:03:30","slug":"canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\/","title":{"rendered":"Canadian Digital Fraudsters Increasingly Target Insurance Industry in First Half of 2022"},"content":{"rendered":"<h2>\nTransUnion determines suspected Canada-based fraud attempts increased 125% against insurance industry in Q2 2022 \u2013 despite an overall 37% decline across all industries during that period<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">TORONTO, Ontario, Sept.  22, 2022  (GLOBE NEWSWIRE) &#8212; According to a TransUnion Canada TruValidate study, for the second consecutive quarter, the rate of suspected global digital fraud attempts in the insurance industry experienced the greatest rise on a year-over-year basis, increasing 159% between Q2 2021 and Q2 2022 (+125% originating from Canada). This follows a 134% global increase between Q1 2021 and Q1 2022 (+151% originating from Canada). Despite this rise in suspected fraud against the insurance industry, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FXaUpLyQ3qABfsHNNWUBemJo3DSEf6PVSAI3HzV7YzwaRnE3j70V6tNCv6h5P0RM13BCbUnPP1Tql64_WYYadj_gChYTTJ4Xs9NPXF1hUlOptZbA3_rXzhI67i8MPdnbj3Kg0Af7wW61F3LimEyehJr-088PsH7la0zngZGL1N788Mfbr-Xc3YyqIfRwYvfSoXOXAnYlOd3YGvJIcquwL3-Vfu_4_uv8O4laQLfD56F5fn38WcoiyzT03rPH_GZJ\" rel=\"nofollow noopener\" target=\"_blank\">TransUnion\u2019s (NYSE:TRU) quarterly fraud analysis<\/a> observed that the overall rate of suspected digital fraud attempts across industries globally declined by approximately -14% between Q2 2021 and Q2 2022. In Canada, suspected digital fraud attempts decreased -37% in the same timeframe.<\/p>\n<p>TransUnion observed declines in the rate of suspected digital fraud attempts from Canada-based transactions across a number of industries including: gaming (-66%), financial services (-52%), retail (-31%), telecommunications (-13%), travel and leisure (-6%) and logistics (-3%).<\/p>\n<p>Conversely, the only industries beyond insurance that experienced increases in suspected digital fraud attempts originating from Canada year-over-year in Q2 2022 included communities such as online dating, forums, etc. (+10%) and gambling (+8%). However, the types of fraud each of these three industries experienced were very different. First-party application fraud was the top insurance-focused digital fraud globally impacting that industry. This type of fraud involves fraudulent applications containing intentionally inaccurate or manipulated information provided by the policyholder with the intention of receiving certification, lower rates or better terms for a policy\/contract. Whereas other communities were dominated by profile misrepresentation, which is when users post inaccurate information in a profile and\/or use bogus profile photos.<\/p>\n<p>\u201cIn recent years, we\u2019ve seen fraudsters shift their industry focus each quarter as they recognize that businesses have put more controls in place. These fraudsters are like chameleons \u2013 always adapting,\u201d said Patrick Boudreau, head of identity management and fraud solutions at TransUnion Canada. \u201cWe have observed interesting trends in the first half of 2022 with suspected fraudulent activity in the insurance industry spiking during the first six months of the year. At this time, we believe the insurance industry is seeing more \u2018soft fraud\u2019 \u2013 meaning when a policyholder misrepresents certain information or circumstances in an effort to lower the policy\u2019s premium. It may be that some consumers are representing their policies incorrectly to try to save money, especially in a high inflation environment that places more pressure on their wallets.\u201d<\/p>\n<p>Digital fraud continues to be a constant in the lives of many Canadian consumers. TransUnion\u2019s latest <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ahwTwsX6AxhX_6SER9yFkKnH6Rm_vpbmpKMnyoGAbKspU9AK2860xtoTxpMiw96ARatmo5cAFnBm_10Z9aCw2DyUNF6GHtxLpaAM_0QCHOr1uOcE5If9FEapEfbMXmGQkMi_Ha9ReHm15_c3Ezk7nQglp8KA9u3zNH7LAwh8YN72htFbu_JyCUZTV_ycKIN9\" rel=\"nofollow noopener\" target=\"_blank\">Consumer Pulse<\/a> study found that about 3 in 10 (31%) Canadian adults reported experiencing digital fraud attempts. And 7% fell victim to fraud such as phishing, identity theft or other types of fraud.<\/p>\n<p>\n        <strong>Suspected Digital Fraud Attempts Shift to New Industries Globally vs. Canada <\/strong>\n      <\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:33%;width:33%;min-width:33%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Industry<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:34%;width:34%;min-width:34%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Canada Rate Change from Q2 2021 to Q2 2022<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:33%;width:33%;min-width:33%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Global Rate Change from Q2 2021 to Q2 2022<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Insurance<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">+125%<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">+159%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Communities (online dating, forums, etc.)<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">+10%<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-8%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Gambling<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">+8%<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-14%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Logistics<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-3%<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">+13%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Travel &amp; Leisure<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-6%<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-28%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Telecommunications<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-13%<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-12%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Retail<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-31%<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-28%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Financial Services<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-52%<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-22%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Gaming<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-66%<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">-63%<\/td>\n<\/tr>\n<\/table>\n<p>\u201cThe digital acceleration brought about by the pandemic has permeated industries that have traditionally operated offline, which fraudsters are trying to capitalize on,\u201d said Boudreau. \u201cAt the same time, for the industries that are finding fraud instances starting to stabilize, the focus has shifted to identifying the \u2018good\u2019 transactions and enabling them to sift through with less friction. For many industries and businesses, it is a challenge to balance implementing the necessary security measures to help weed out potential fraudsters \u2013 without creating friction for their genuine customers. Strong fraud and authentication practices can dramatically decrease false positives and focus fraud-fighting resources on the minority of interactions that warrant scrutiny. By reducing the pool of manual reviews and customer interrogations, organizations can dramatically reduce costs, increase revenue and improve the overall customer experience.\u201d<\/p>\n<p align=\"justify\">\n        <strong>About The Study <\/strong><br \/>\n        <br \/>TransUnion came to its conclusions about fraud against businesses 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\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FXaUpLyQ3qABfsHNNWUBerFHpuxYTdRu0gCMvixt4WGwa2U0eL-zpq8zHtqay1XCZ7mTg7lARTw3SDkRQayFs7NWed7q3cwtHdoTaXJJ11u-BivfYRrlyVGUU9BGC-3b19aJJVBXPU8lf7BnagCdxhu0lxIP5aN6wldZ3ZWLLDLGwGB0YJ2Tt8aw25YPGZXo\" rel=\"nofollow noopener\" target=\"_blank\">TransUnion TruValidate<\/a>. The percent or rate of suspected digital fraud attempts are those that TruValidate customers either denied or reviewed due to fraudulent indicators compared to all transactions that were assessed for fraud.<\/p>\n<p>For worldwide and regional breakdowns around how much the suspected digital fraud attempt rate recently changed, what types of fraud are most prevalent in certain industries and more, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=6tQg78vvIrcdqRW6mSc_8hd6pzjCuIqVXicbF7mvHda_mewY3ZsU2vSK5XmQBHVXAe7FsAN0NpBF8e5IDBkmjp-Y5MaPfiPdZOZuidReJYFaHAQi-5e-RBaQACmj9J95nGghaHngeIgcNyQfzsBkdLaEK8KHwrCWHgJhr37hFuSBErRJR03mxXnwM8xFi8VFoVabHIBkTVAgQzduK5m0pij-E8FuvPXIHq9HKUYr99M=\" rel=\"nofollow noopener\" target=\"_blank\">please download the infographic.<\/a><\/p>\n<p>\n        <strong>About TransUnion (NYSE: TRU)<\/strong><br \/>\n        <br \/>TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably 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<table style=\"border-collapse: collapse;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:26%;width:26%;min-width:26%\">\n            <strong>Contact<\/strong><br \/>\n            \n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%\">\u00a0<\/td>\n<td style=\"max-width:73%;width:73%;min-width:73%\">Emma Tiessen<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>E-mail<\/strong><br \/>\n            \n          <\/td>\n<td>\u00a0<\/td>\n<td>emma.tiessen@ketchum.com<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Telephone<\/strong><br \/>\n            \n          <\/td>\n<td>\u00a0<\/td>\n<td>647-523-1594<\/td>\n<\/tr>\n<\/table>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODY1MTM2MSM1MTY1OTM0IzIwMDk4NzQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MzNmNmU4MWItMzM1Yy00ZjY3LWFkZDItMDQ5YjI0YTU0ZTM0LTEwMjE0NDc=\/tiny\/TransUnion.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>TransUnion determines suspected Canada-based fraud attempts increased 125% against insurance industry in Q2 2022 \u2013 despite an overall 37% decline across all industries during that period TORONTO, Ontario, Sept. 22, 2022 (GLOBE NEWSWIRE) &#8212; According to a TransUnion Canada TruValidate study, for the second consecutive quarter, the rate of suspected global digital fraud attempts in the insurance industry experienced the greatest rise on a year-over-year basis, increasing 159% between Q2 2021 and Q2 2022 (+125% originating from Canada). This follows a 134% global increase between Q1 2021 and Q1 2022 (+151% originating from Canada). Despite this rise in suspected fraud against the insurance industry, TransUnion\u2019s (NYSE:TRU) quarterly fraud analysis observed that the overall rate of suspected digital fraud attempts across &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Canadian Digital Fraudsters Increasingly Target Insurance Industry in First Half of 2022&#8221;<\/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-687870","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Digital Fraudsters Increasingly Target Insurance Industry in First Half of 2022 - 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\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian Digital Fraudsters Increasingly Target Insurance Industry in First Half of 2022 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TransUnion determines suspected Canada-based fraud attempts increased 125% against insurance industry in Q2 2022 \u2013 despite an overall 37% decline across all industries during that period TORONTO, Ontario, Sept. 22, 2022 (GLOBE NEWSWIRE) &#8212; According to a TransUnion Canada TruValidate study, for the second consecutive quarter, the rate of suspected global digital fraud attempts in the insurance industry experienced the greatest rise on a year-over-year basis, increasing 159% between Q2 2021 and Q2 2022 (+125% originating from Canada). This follows a 134% global increase between Q1 2021 and Q1 2022 (+151% originating from Canada). Despite this rise in suspected fraud against the insurance industry, TransUnion\u2019s (NYSE:TRU) quarterly fraud analysis observed that the overall rate of suspected digital fraud attempts across &hellip; Continue reading &quot;Canadian Digital Fraudsters Increasingly Target Insurance Industry in First Half of 2022&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-22T10:03:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODY1MTM2MSM1MTY1OTM0IzIwMDk4NzQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Canadian Digital Fraudsters Increasingly Target Insurance Industry in First Half of 2022\",\"datePublished\":\"2022-09-22T10:03:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\\\/\"},\"wordCount\":888,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODY1MTM2MSM1MTY1OTM0IzIwMDk4NzQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\\\/\",\"name\":\"Canadian Digital Fraudsters Increasingly Target Insurance Industry in First Half of 2022 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/canadian-digital-fraudsters-increasingly-target-insurance-industry-in-first-half-of-2022\/","og_locale":"en_US","og_type":"article","og_title":"Canadian Digital Fraudsters Increasingly Target Insurance Industry in First Half of 2022 - Market Newsdesk","og_description":"TransUnion determines suspected Canada-based fraud attempts increased 125% against insurance industry in Q2 2022 \u2013 despite an overall 37% decline across all industries during that period TORONTO, Ontario, Sept. 22, 2022 (GLOBE NEWSWIRE) &#8212; According to a TransUnion Canada TruValidate study, for the second consecutive quarter, the rate of suspected global digital fraud attempts in the insurance industry experienced the greatest rise on a year-over-year basis, increasing 159% between Q2 2021 and Q2 2022 (+125% originating from Canada). This follows a 134% global increase between Q1 2021 and Q1 2022 (+151% originating from Canada). 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