Online fraud attempts drop 29% during unlocking period, says study

Such attempts had risen sharply right before pandemic and early part of pandemic by 121 per cent, according to a TransUnion report

Online fraud attempts have declined 29 per cent during the unlocking period in India. Such attempts had risen sharply right before the Covid-19 outbreak and in the early part of the pandemic by 121 per cent, according to a TransUnion study.

“With the rush among businesses to go digital as many were forced to go completely online almost overnight, fraudsters tried to take advantage,” said Shaleen Srivastava, EVP and head of fraud, solutions and alternate data at TransUnion in India.

There was a marked increase in suspected online fraud attempts in India against businesses, after the World Health Organization (WHO) declared Covid-19