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Digital Fraudsters Increase Attacks Against Multiple Industries During Pandemic; Use COVID-19 Scams to Target Younger Generations

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Digital Fraudsters Increase Attacks Against Multiple Industries During Pandemic; Use COVID-19 Scams to Target Younger Generations
Digital Fraudsters Increase Attacks Against Multiple Industries During Pandemic; Use COVID-19 Scams to Target Younger GenerationsReading Time: 3 minutes

 

TransUnion quarterly global fraud analysis also examines the types of fraud targeting businesses and where it originates

TransUnion released its quarterly analysis of global online fraud trends finding that the telecommunications, retail and financial services industries have been increasingly impacted. From a consumer perspective, Millennials have been most targeted by fraudsters using COVID-19 scams.

Given the changing economic environment with COVID-19, this quarter TransUnion analyzed fraud trends through April 28 to ensure the impacts following the March 11 World Health Organization (WHO) pandemic declaration were included in the analysis

Overall, TransUnion found the percent of suspected fraudulent digital transactions rose 5% from March 11 to April 28 when compared to Jan. 1 to March 10, 2020. TransUnion identified more than 100 million risky transactions from March 11 to April 28.

“Given the billions of people globally that have been forced to stay at home, industries have been disrupted in a way not seen on this massive of a scale for generations,” said Shai Cohen, senior vice president of Global Fraud & Identity Solutions at TransUnion.

“Now that many transactions have shifted online, fraudsters have tried to take advantage and companies must adapt. Businesses that come out on top will be those leveraging fraud prevention tools that provide great detection rates and friction-right experiences for consumers.”

 

Examining Fraud Types and Their Impact on Industries

TransUnion analyzed the below industries for a change in the percent of suspected fraud against them, comparing Jan. 1 to March 10 and March 11 to April 28.

 

Suspected Fraud Post Pandemic Declaration

Industry Suspected fraud increase  Top type of fraud Top country for suspected fraud origination
Telecommunications 76% Credit card Timor-Leste
E-Commerce 12% Promotion abuse Indonesia
Financial Services 11% Identity theft Syria
Gambling -1% Promotion abuse Sri Lanka
Public Sector -1% Account takeover Nigeria
Insurance -3% Ghost broking Pakistan
Logistics -7% Shipping Philippines
Communities -11% Phishing Ivory Coast
Travel & Leisure -38% Credit card Haiti
Healthcare -40% Identity theft Finland
Gaming -43% Gold farming Myanmar

 

“Our data shows that as social distancing changes shopping patterns, fraudsters have taken notice and targeted the more digital forward industries while following the money,” said Melissa Gaddis, senior director of customer success for TransUnion Global Fraud & Identity Solutions. “For instance, although we found online gaming increased 64% as people stay home, it isn’t immediately lucrative to target those companies since financial information isn’t generally shared there. However telecommunications, e-commerce and financial services all have large digital adoption, financial information and payments at the center of their online experience, and fared relatively well compared to other industries during the pandemic.”

Globally across industries, TransUnion found the countries with the highest percent of risky transactions were: 1) Yemen, 2) Syria and 3) Kazakhstan. In the U.S. overall, TransUnion found the cities with the highest percent of risky transactions were: 1) Springfield, Mass., Akron, Ohio and Louisville, Ky.

 

Consumers Targeted By COVID-19 Schemes

To better understand the impacts of COVID-19 on consumers, TransUnion surveyed 9,215 adults in the U.S., Canada, Colombia, Hong Kong, India, South Africa and the U.K. during the week of April 13. Nearly three out of 10 respondents (29%) said they had been targeted by digital fraud related to COVID-19, with Millennials (those persons between the ages 26-40) being the most targeted at 34%.

Furthermore, TransUnion found that consumers who said their household income is being negatively impacted by the COVID-19 pandemic are more likely to experience digital fraud with 32% reporting being targeted by online COVID-19 scams compared to 22% of people not financially impacted.

“A common assumption is that fraudsters target older generations who are perceived to be less digitally capable,” said Gaddis.”Our data showed the opposite with younger generations, Millennials and Gen Z (those born in or after 1995), being the most targeted. Adding insult to injury, our survey found Millennials are being financially challenged the most during the pandemic.”

 

Methodology

For its transactional data, TransUnion analyzed the billions of online transactions its flagship fraud and identity solution, TransUnion IDVision® with iovation®, assessed for fraud indicators for more than 40,000 websites and apps. It compared the percent of suspected fraudulent transactions it saw from Jan. 1 to March 10, 2020 to those from March 11 to April 28, 2020.

For a hub of relevant educational resources aimed to help fight fraud during this time, go to the TransUnion Global Fraud & Identity Solutions COVID-19 resource center.

 

About TransUnion:

TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing a comprehensive picture of each person so they can be reliably and safely represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good.®

TransUnion Global Fraud & Identity Solutions unite both consumer and device identities to detect threats across markets while ensuring friction-right user experiences. The solutions, all part of the IDVision with iovation suite, fuse traditional data science with machine learning to provide businesses unique insights about consumer transactions, safeguarding tens of millions of transactions each day.

A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people.

 

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Digital Fraudsters Increase Attacks Against Multiple Industries During Pandemic; Use COVID-19 Scams to Target Younger Generations

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Enhanced Regional Presence: The Partnership Between SYNOT Games and BET.bg

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SYNOT Games, a leading content provider in the iGaming industry, has announced a strategic partnership with BET.bg, one of the foremost online casinos in Bulgaria. This collaboration, made possible through the EGT aggregator platform, marks another key milestone in SYNOT Games’ continued expansion across the Balkan region.

As a recognized leader in Bulgaria’s competitive gaming landscape, BET.bg strengthens its offerings by incorporating SYNOT Games’ comprehensive portfolio of online slot titles. The integration provides a diverse selection of high-quality games to BET.bg’s players, including popular titles such as Aztec Jaguar MegawaysLegends of the Colosseum, and Crazy Free Fruits.

The partnership serves several strategic objectives for the SYNOT Games. First and foremost, it supports the company’s long-term vision of establishing a robust presence across the Balkans by aligning with trusted and high-performing regional operators. The collaboration with BET.bg enables SYNOT Games to tap into a loyal player base in Bulgaria, driving higher brand recognition and user engagement. Furthermore, it accelerates the company’s mission to diversify its distribution channels and leverage aggregators like EGT to maximize reach and operational efficiency.

We’re excited to team up with BET.bg, a respected and trusted operator that holds a great position in Bulgaria,” said Martin Krajčí, Chief Commercial Officer at SYNOT Games.

With the amazing support of EGT’s aggregation platform, we’ve been able to share our portfolio with a wider audience. This partnership highlights our strategic focus on the beautiful Balkan region and showcases our commitment to delivering quality content that truly meets the needs of local players‘ preferences,” she continued.

BET.bg team added: “We’re always on the lookout for fresh ways to enhance our offerings and bring top-notch entertainment to our users. By teaming up with SYNOT Games, we can do just that! Their diverse and engaging portfolio beautifully complements our existing lineup, and we can’t wait to see how our players enjoy these high-performing titles.

The launch of SYNOT Games’ content on BET.bg continues the provider’s momentum in regulated markets, supported by a steady rollout of new titles and proven performers tailored to diverse player bases. The move exemplifies SYNOT Games‘ strategy of forming long-term partnerships that ensure content visibility and align with partners’ growth ambitions in key European markets.

The post Enhanced Regional Presence: The Partnership Between SYNOT Games and BET.bg appeared first on European Gaming Industry News.

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SOFTSWISS Heads to SiGMA Asia 2025

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SOFTSWISS, a global tech expert with over 15 years of iGaming experience, will participate in SiGMA Asia 2025, which takes place from 1 to 4 June in Manila, the Philippines. The event is set to welcome 20,000 delegates, including operators, affiliates, regulators, and top decision-makers.

With over 450 exhibitors, SiGMA Asia is a promising platform for companies exploring business opportunities across the diverse and fast-growing Asian iGaming landscape.

The Asian iGaming market presents a compelling mix of potential and complexity. According to the SOFTSWISS iGaming Trends Report 2025, countries like the Philippines and India are currently undergoing regulatory shifts and technological expansion. 

The Philippines market is projected to reach an annual growth rate of 9.23% by 2033. The region is now emerging as Asia’s second-largest gaming hub, focused on strengthening its domestic market and expanding integrated resorts. India, one of the largest digital markets with over 750 million internet users, is also witnessing rapid growth in the iGaming sector, with revenue projected to grow at a CAGR of 8.1% through 2032.

These developments create substantial opportunities for the industry and a demand for experienced tech providers like SOFTSWISS, which can offer highly localised, scalable solutions that meet evolving market requirements.

Olga Resiga, Chief Business Development Officer at SOFTSWISS, shares: “Asia is one of the most exciting and diverse regions for iGaming today. As digital engagement and the industry itself grow, operators are looking for partners that can deliver reliable, localised, and scalable solutions. SOFTSWISS is ready to support this transformation with technology that will help operators build strong and compliant iGaming projects in the region.”

The SOFTSWISS team will be available at Stand 2116 to present its ecosystem of solutions and share market insights with potential partners and clients.

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 27,800 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.

The post SOFTSWISS Heads to SiGMA Asia 2025 appeared first on European Gaming Industry News.

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Americas Online Gambling Market To Soon Eclipse Europe’s, Finds Vixio Forecasts

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  • Vixio forecasts that regulated online GGR in North and Latin America will grow at a compound annual rate of 3 percent from US$22.3bn in 2023 to US$56.3bn by 2028, drawing level with regulated European market.

Vixio, a leading provider of regulatory intelligence solutions, ahead of SBC Americas forecasts that the regulated online gambling market in the Americas to be worth US$32.5bn by 2026, compared to US$15.6bn in 2022, more than doubling in size in a period of four years. This growth rate is more than double the equivalent in Europe, with the European regulated online gambling market projected to be worth €37.3bn in 2026, up from just under €30bn in 2022.

By 2028, regulated online gambling markets in the U.S., Canada and Latin American countries are expected to generate US$56.3bn, drawing level with Europe or potentially surpassing it depending on currency fluctuations.

“Prior to 2018, the regulated online gambling market was highly euro-centric but legalization of sports betting and iGaming in various U.S. states as well as the major markets of Ontario and Brazil has coincided with stricter regulations in European countries that has restricted growth in a number of cases,” said  James Kilsby, Chief Analyst, Vixio.

Vixio will be showcasing its data forecasting and regulatory intelligence solutions in more detail at the SBC Summit Americas 2026 at stand B175, with additional information in its Latin America Online Outlook report, available at vixio.com/research/latin-america-outlook-2025.

 

Vixio forecasts that regulated online GGR in North and Latin America will grow at a compound annual rate of 20.3 percent from US$22.3bn in 2023 to US$56.3bn by 2028, drawing level with regulated European market.

Providing further insight into one of the most closely watched online gambling markets globally, Kilsby, Vixio’s award-winning analyst, will be speaking during a panel session titled “Brazil 2025: A Surge in Licensing and Lessons So Far.” James was recently recognized as a Silver Stevie® Award Winner for Thought Leader of the Year in the 2025 American Business Awards®. The panel will take place on Wednesday, May 14, at 11 a.m. in conference room four.

In addition, Vixio has been shortlisted for Compliance Solution of the Year at the 2025 SBC Awards, which will be announced on the second day of the conference.

Visit us at stand B175 at SBC Summit Americas to learn more about how Vixio can help your business navigate the regulatory challenges of the gaming industry.

For more information, or to book a meeting with a Vixio representative at SBC Americas, visit vixio.com.

 

The post Americas Online Gambling Market To Soon Eclipse Europe’s, Finds Vixio Forecasts appeared first on European Gaming Industry News.

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