Fraudulent transactions increase over 70 percent

Fraudulent transactions in the first half of 2024 were up over 73 percent year on year, and suspected fraudulent transactions increased by over 84 percent, according to the 2024 Mid-Year Identity Fraud Review, released today by AuthenticID. The report also looks at the latest trends including a surge in AI-enabled fraud, as well as the increased use of deepfakes for identity fraud tactics like account takeover attacks and injection attacks. It finds that 40 percent of survey respondents have already had their personal data exposed as part of a breach in 2024 and that 91 percent of people could not… [Continue Reading]