Fraudsters are all too willing to take advantage of our goodwill. Federal stimulus payments issued during the coronavirus are a magnet for identity theft. In May 2020, the unemployment rate was 13.3 percent (U.S. Bureau of Labor Statistics). It’s easy to see why people are eager to receive federal stimulus payments to assist them during the coronavirus outbreak. Unfortunately, scammers are eager to collect your money, too. The Federal Trade Commission (FTC) received over 90,000 complaints from across the U.S. between January and May about
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Online fraud can be pretty insidious, especially if you think you’re doing everything right. But fraud is becoming more sophisticated and the bad guys know technology. Many of them use advanced software that can reduce days of drudgery to mere hours of research and collecting insecure private information for their own use. First and foremost: think and verify before giving out any personal information. Be fastidious when asked for your information and always request the person’s credentials. Be wary of …
Few would disagree that 2020 has brought its challenges – and I would like to know who those few are. NuData analysts closely monitor our data for online patterns and trends, and found some compelling changes over the first six months of 2020. The COVID-19 pandemic has driven the fastest transition of customers moving to online transactions. As a result, we’ve seen an unprecedented surge in the creativity of credential-stealing scams. Companies adapting their business models to enhance 
It is no secret that account takeover has reinvented itself several times in the last decade. From dum automation to human-looking behavior. Today, we are witnessing the ultimate twist: a backward evolution to use humans again as part of automated attacks. Just as financial security managers become more innovative to protect their businesses, so do fraudsters. The NuData-sponsored Aite Group report Trends in Account Takeover Fraud for 2020 and Beyond takes a peek at how account takeover (ATO) has 
Online fraud isn’t just the work of some teens in their parents’ basements. Most hackers are well-trained professionals employed by a specialized industry. Learning how these workers think is the most effective way to get ahead of their plots. As in any industry, specialization is queen. Cyberattacks owe much of their success rates to this specialization where every step to defraud individuals is highly developed. Like any business, the ultimate goal is to make money and leverage existing work to 