During the COVID-19 Pandemic
The COVID-19 pandemic has brought about a variety of changes to our lives. Unfortunately, one of those changes is a significant increase in fraud attempts. According to a recent report from TransUnion, fraud attempts have increased by more than 50% since the start of the pandemic.
The report found that fraud attempts have been particularly high in the areas of new account openings, loan applications, and identity theft. In addition, fraudsters have been targeting government relief programs such as unemployment benefits and stimulus payments.
The increase in fraud attempts is likely due to the fact that many people are now working from home and are more likely to fall victim to scams. Additionally, the economic downturn has caused many people to be more desperate for money, making them more likely to fall prey to fraudulent activities.
Fortunately, there are steps that individuals can take to protect themselves from fraud. It is important to be aware of potential scams and to never give out personal information such as Social Security numbers or bank account information. Additionally, it is important to be vigilant when it comes to online purchases and to only use secure websites when making purchases.
It is also important to monitor your credit report for any suspicious activity. TransUnion offers a free credit monitoring service that can help you keep an eye on your credit report and alert you if there is any suspicious activity.
The increase in fraud attempts during the COVID-19 pandemic is concerning, but there are steps that individuals can take to protect themselves. By being aware of potential scams and monitoring their credit reports, individuals can help protect themselves from becoming victims of fraud.
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