COVID-19 has significantly accelerated the adoption of digital technologies across industries. Be it digital account opening, mobile banking, multiplayer gaming, e-commerce, or mobile payments—the pandemic has forced organizations and consumers to go digital.
The explosive growth in digital engagement has also led to an undesirable outcome: a sharp increase in cyber fraud. Scamsters are increasingly prying on unsuspecting first-time digital users. Identity fraud—derived on the back of credentials stolen through a massive number of phishing attacks—has gone up significantly compared to previous years. SIM swaps and account takeovers are now more common than ever before.
Here are some telling numbers on cyber fraud seen rising since the onset of COVID-19.
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Prove’s solutions can help businesses make their online customer experiences faster, easier and more secure.
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Prove and BetMGM, the sports betting and iGaming leader, have entered into a partnership which will elevate the security standards and user experience for BetMGM customers through the Prove Pre-Fill® identity solution.