What you need to know to prevent fraud in 2018
Are you wondering what type of fraud attacks you should look out for this year and what you can do to proactively get ahead of these attacks?
Fraud in 2018 will actually look a lot like fraud in 2017. These familiar fraud trends will include:
- Major data breaches
- Online phishing attacks & payment scams
- Non-chip enabled card fraud
- ACH & wire transaction fraud
- New account & new loan fraud
- Synthetic identity fraud
- Identity theft & account takeover fraud
- Mobile fraud attacks
- Internal fraud
- Card-not-present fraud
Though the types of attacks will continue from last year, there are two key circumstances that will likely amplify the amount and severity of these attacks throughout 2018:
- More exposed records: 145.5 million U.S. records were exposed last year from the Equifax data breach alone. With that and other breaches taking place in 2017 (like Deloitte and Sonic Foods) you are looking at a consumer base that is at high risk of identity theft and fraud exposure this year.
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