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Banking Fraud up 159% as Transactions Hit Pre-Pandemic Volumes
Banking fraud attempts soared by 159% from the final three months of 2020 to Q1 2021 as scammers sought to hide their attack in legitimate online activity, according to Feedzai. Data used in the firm’s Financial Crime Report Q2 2021 Edition includes 12 billion global transactions between January-March 2021. The vast majority (93%) of banking fraud during the period, as always, was online. However, while telephone banking made up less than 1% of total transactions,…
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