With the growing threat of fraud fueled by the digital acceleration that took place in 2020, Experian revealed five emerging fraud threats facing businesses in 2021.
The rapid increase in digital use created a perfect storm for fraudsters to quickly find new ways to steal funds, capitalizing on consumers’ lack of familiarity with digital platforms and the resource constraints faced by many businesses.
In fact, from January 2020 to early January 2021, the Federal Trade Commission released that consumers reported over 275,000 complaints resulting in more than $210 million in COVID-19-related fraud loss.
