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Stay a step ahead of fraudsters during COVID-19

Ruthless fraudsters are exploiting COVID-19 concerns with a range of new scams - distance yourself from the latest tactics with these simple steps. 

Author: Keith McGill, head of ID & Fraud at Equifax UK

 

Rapid change in our day-to-day lifestyles and the heightened insecurity caused by the current pandemic is providing ripe opportunities for fraudsters. Research by Cifas last year already pointed to a rising trend in ID fraud as fraudsters find new ways to operate and fly below the radar, and the understandable nervousness around COVID-19 escalates the current threat environment.

 

Unprecedented levels of government aid and new, unfamiliar support schemes provide an overwhelming backdrop of options. Coupled with the accelerated digitisation of services as businesses adapt to new ways of working, getting to grips with what is and isn’t genuine is a minefield that scam artists are quickly taking advantage of. Meanwhile, isolation is cutting off the most vulnerable, and increased financial insecurity from redundancies, furloughing and savings losses is leaving people in search of new financial guarantees to ride out the storm.

 

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