Sumary of PH-originated digital financial services fraud jumps 50% — study:
- Philippine-original digital financial services fraud jumped 50 percent, the highest among all industries analyzed, a new research revealed..
- “The company found the percentage of suspected digital fraud attempts coming from the Philippines in financial services increased 50 percent, the highest among all industries analyzed,”.
- Across industries, the research showed that the rate of suspected digital fraud attempts globally rose 24 percent when comparing the first four months of 2021 with the last four months of 2020..
- The percentage of digital fraud attempts coming from the Philippines increased 19 percent during the same time period..
- TransUnion monitors digital fraud attempts reported by businesses in varied industries such as communities, financial services, gambling, gaming, retail, and telecommunications, among others..
- The conclusions are based on intelligence from billions of transactions and more than 40,000 websites and apps contained in its flagship identity proofing, risk-based authentication and fraud analytics solution suite –TransUnion TruValidate….