During a turbulent period for the global digital economy, fraudsters have continued to adapt, evolve and pivot attacks. As citizens shifted from brick-and-mortar to online services in the wake of the pandemic, the increase in digital identities and new digital accounts – and the related fraud – became a challenge for government agencies.
A lot of the state and local governments saw antiquated systems that were slammed with an unprecedented level of transactions and customers. The combination of a need to get benefits out quickly in a frictionless customer experience combined with a lack of digital identity verification and fraud risk analysis really created a ripe environment for fraudsters.
The LexisNexis Risk Solutions Cybercrime Report is based on cybercrime attacks detected by the Digital Identity Network, during near real time analysis of interactions across the online journey. The report studied online transaction volumes from January through June 2020 and found that transaction volume for government services grew, especially as more people created digital identities to carry out needed interactions online.
Cybercrime Report Highlights
- A deep dive into cybercrime trends and how different industries have been impacted by a fast-evolving global landscape.
- Exploration of which customer use cases have been most targeted by fraudsters.
- Analysis of live fraud networks operating across industries and regions.
- Examples of fraud stories from specific businesses with key mitigation strategies.
Read “The Changing Face of Cybercrime” to learn about the latest attack patterns in global cybercrime from the LexisNexis® Risk Solutions Digital Identity Network® between January and June 2020.