"Government Faces Increasing Threat from Stolen Accounts"

Findings from TransUnion's Public Sector Fraud Study suggest that despite the increase in the frequency and severity of fraud threats against government agencies during the COVID-19 pandemic, agencies still have not taken appropriate actions to address those threats. Over 50 percent of nearly 600 federal, state, and local agency officials, who participated in TransUnion's survey, said account takeover fraud had increased over the past two years. Most government employees also said the severity of these attacks is growing. However, only 41 percent of the respondents said senior leadership is prioritizing account takeover fraud, with only 38 percent saying that their IT systems are assessed regularly to prevent fraud. The increased use of online services during the pandemic has been linked to the rise in criminal attempts to swindle the government. These online services also include those that disburse unemployment payments. Mobile phones have been cited as the biggest threat to customer accounts, as more than 6 in 10 of the respondents said such devices are the most vulnerable to account takeovers. The survey pointed out the government's overall lack of investment as a key contributing factor to the rise in fraud. Emerging technologies such as Artificial Intelligence (AI) present a bright spot. According to the survey, more than 60 percent expect AI decision-making technology to help improve security, customer status tracking, and more. This article continues to discuss key findings from Transunion's study surrounding the increase in fraud threats to government agencies. 

NextGov reports "Government Faces Increasing Threat from Stolen Accounts"