The Rise of Financial Crime During a Pandemic
A Visual Guide to Bring Awareness of Financial Crime Attacks During the Pandemic
During unprecedented circumstances like the Coronavirus pandemic, criminals will look to exploit any weaknesses in firms’ financial crime prevention strategies caused by the virus, as well as using sophisticated scams in an attempt to catch out consumers. Throughout March 2020, Action Fraud reported a 400% increase in Coronavirus related fraud cases, while the Federal Trade Commission reported fraud losses of $13.44 million from January to April 2020. Therefore, it is important for organizations to maintain their systems and controls regardless of practical challenges.
This infographic by Featurespace aims to bring awareness of these financial crime tactics to businesses, their customers, and individuals to help safeguard against financial crime attacks during the global pandemic.