As technology continues to advance, so do the methods of fraudsters. In 2023, we can expect to see emerging fraud trends that will require businesses and individuals to be more vigilant than ever before. Ryta Zasiekina, a fraud prevention expert, has provided insights into what we can expect in the coming years.
One trend that is expected to rise is synthetic identity fraud. This occurs when a fraudster creates a fake identity using a combination of real and fake information. They then use this identity to open accounts and take out loans, leaving the lender with the debt. Synthetic identity fraud is difficult to detect because the information used is often a mix of real and fake data, making it appear legitimate.
Another trend that is expected to increase is account takeover fraud. This occurs when a fraudster gains access to a legitimate account by stealing login credentials or using phishing scams. Once they have access, they can make transactions or change the account information, causing financial damage to the account holder.
In addition to these trends, we can also expect to see an increase in ransomware attacks. Ransomware is a type of malware that encrypts a victim’s files and demands payment in exchange for the decryption key. This type of attack can be devastating for businesses, as it can result in the loss of important data and financial loss.
To combat these emerging fraud trends, businesses and individuals must take proactive measures. This includes implementing strong security measures such as two-factor authentication and regularly monitoring accounts for suspicious activity. It is also important to educate employees and customers on how to identify and avoid phishing scams.
In conclusion, the emerging fraud trends expected in 2023 require businesses and individuals to be more vigilant than ever before. By staying informed and taking proactive measures, we can protect ourselves from these threats and prevent financial loss.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- Source: Plato Data Intelligence: PlatoData