New Report Finds Online Phishing and Fraud Activity Up 185% in 2020
LOS ALTOS, Calif. (BUSINESS WIRE) Bolster, a deep learning-powered, next generation fraud prevention company, today released its 2021 Annual State of Phishing and Online Fraud Report. The report highlights the key trends that drove digital scams using data gathered from analyzing more than one billion sites. Growth in online fraud campaign activity was unprecedented with an increase of 185% from what was observed in 2019.
“This report proves what many companies have witnessed up close and personal - the Internet is fraught with scammers”
Remote working, online distribution and digital sales channels created an explosion in digital business in 2020. As companies accelerated their digital transformation to adapt to the COVID-19 pandemic, online phishing and fraud activity exploded, averaging more than 19,000 new threats being created daily.
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Online scams result in new operating risks for merchants: Ponemon Institute ANI | Updated: Apr 16, 2021 13:51 IST
New Delhi [India], Apr 16 (ANI): Organisations in the United States are losing an average of 4.5 million dollars per year due to online fraudulent transactions, according to a new study from the Ponemon Institute and sponsored by global leader in digital payments PayPal.
Despite these losses, only half (51 per cent) say their organisations are prioritising protecting online financial transactions, said the study titled The Real Cost of Online Fraud.
More than 600 analysts and senior leaders were surveyed in key verticals including retail, travel, hospitality and entertainment.
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