Banking fraud rises by more than 150 percent

A new report from financial crime management platform Feedzai shows that all banking fraud -- combining internet, telephone, and branch attacks -- grew by 159 percent in the first quarter of 2021 compared to the end of 2020. Based on analysis of over 12 billion global banking transactions from January to March 2021 the study shows online banking made up 96 percent of all banking transactions and accounted for 93 percent of all fraud attempts. As more shoppers choose to make purchases from their mobile phones, the report also finds that Android users are more likely to experience fraud. Of… [Continue Reading]