‘Fraud attempts against logistics cos up 224%’

There is a significant increase in attempted digital fraud originating from India against logistics companies, as per TransUnion Cibil. The fraud level more than trebled — up 224 per cent — and has been a significant development during Covid-19 times, the credit information bureau said.

“With more people shopping online during the pandemic, goods are having to be shipped and fraudsters know this so are targeting either redirecting genuine orders or alternatively placing fraudulent orders with compromised consumer accounts to genuine customer addresses, and then redirecting them once shipped,” it said.

Cibil said it found the percentage of suspected fraudulent digital transaction attempts against businesses originating from India increased 28.32 per cent when compared to the two periods