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Phone Scams on the Rise: How a Pandemic Played Into the Hands of Fraudsters

With more people using their smartphones to make payments, and many financial organizations verifying users' accounts through text messages, the fraud floodgates have opened. In fact, around 1 in 6 Americans were scammed by phone over the past 12 months, with the average amount lost increasing to $502, up from $351 the previous year.

In this BAI-hosted webinar, TransUnion thought leaders help you better understand the rise and impact of phone scams.

  • PTP- and SMS-based phone frauds, and why they have become especially attractive to fraudsters
  • Why traditional fraud defenses often cannot stop phone scams
  • How forward-thinking financial institutions are leveraging identity- and device-based data to target and prevent phone frauds