Digital fraud attempts from India decrease as businesses revive post-Covid: Transunion

Digital fraud attempts from India decreased significantly as companies reopened their physical locations post easing of lockdown, according to a report by information and insights firm TransUnion. But it also warns of a suspected rise in fraudulent transactions in logistics and financial services businesses.

TransUnion’s findings revealed a 29% decrease in suspected digital fraud attempts from India against businesses as businesses began reopening in the phase-II from May 19 to July 25 when compared to phase 1 (11th March-18th May).

Specifically, TransUnion found that suspected online fraud from India against businesses increased 121% from right before the pandemic ( January-10th March) to the beginning of the pandemic (Phase-I from March 11 to May 18). Globally, TransUnion found the percent of suspected fraudulent digital transactions against businesses worldwide decreased 9% from the beginning of the pandemic (11th March – 18th May) to when businesses began reopening (19th May 19- 25th July).