The Pandemic And Its Effect On Identity Fraud In North America

How Digital Fraud Varied Across Industries Affected By The Pandemic

The world is in the middle of a crisis for at least 3 months now. Several businesses collapsed, unemployment rates are at an all-time high and nobody knows when this situation is going to be better.

But the pandemic has proven to be a silver lining for a few businesses. We all have already heard about how Zoom shot to fame among consumers. Netflix added 15 million subscribers in a quarter, more than double the 7.2 million that was projected.

With such success comes risk. Such exorbitant success is a ripe ground for fraudsters to game the systems. We, at TeleSign, a digital identity and programmable communications company, tried to analyze the trend in our North American business, and this is what we noticed.

Sign-ups and Anticipated Fraud Rose for The Internet Giants

Work from home was not supposed to be mainstream until at least 3–4 years from now. Covid-19 accelerated the transition drastically. The Result? A lot of additional business flew to the internet giants. But additional sign-ups, especially when these products were made open to consumers, come with the added risk of fraud, and…