How identity fraud became the threat that never sleeps

Before COVID-19, fraudsters largely operated in line with the standard workweek, active between 9 am – 5 pm and tapering off at the weekends. Then, during the pandemic, fraud started to spike at off-peak times, including late at night and on weekends.

This suggests that fraudsters started to intentionally target businesses when staff weren’t manning the systems, or that they started viewing it as more of an opportunistic or recreational activity.

Today, the pattern has been upended again. In the ever-increasing digital era, AI-assisted tools are not only automating processes for criminals, enabling them to scale operations quickly, but they are also making fraud cheaper and harder to detect. Fraud has now evolved into an ‘always-on’ threat that flows like water, seeking cracks to exploit.

Fraud Specialist Senior Manager at Entrust.

Yet, the latest AI attack vectors have also become somewhat of a distraction for businesses. Simpler, low-tech methods still...

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