"Fraudsters' Working Patterns Have Changed in Recent Years"

According to Onfido, the current global financial cost of fraud is projected to be $5.38 trillion, or 6.4 percent of global GDP. Onfido's Identity Fraud Report, emphasizes that 80 percent of repored fraud is cyber-enabled. As criminals seek to exploit digitalization processes, they are increasingly able to perpetrate financial crimes with growing efficiency and sophistication, to the point where financial crime and cybercrime are inextricably intertwined, according to Malik Alibegovic, Forensic Analyst at Interpol. A substantial amount of financial fraud is committed using digital technology, and the pandemic has only accelerated the development of digital money laundering tools and other cyber-enabled financial crimes. This article continues to discuss key findings from the fourth edition of Onfido’s annual Identity Fraud Report. 

Help Net Security reports "Fraudsters' Working Patterns Have Changed in Recent Years"