As the threat ecosystem advances, every industry becomes vulnerable to scams and fraudulent. No matter which sector you are operating in, if your systems are vulnerable or you fail to identify potential scam attempts, scammers are ready to target you.
Every year, individuals and organizations lose millions of dollars due to financial scams. Common causes include a lack of resources to prevent scams, unawareness, inefficient compliance strategies, and others.
Data show that between 2021 and 2023, 31% of adults in the USA experienced financial fraud. That’s not all, as such scam attempts have increased all over the globe. Experts noticed a 33% surge in fraud against people in England and Wales, accounting for 40% crime against individuals.
Such incidents lead organizations and their customers to suffer from significant financial loss. Let us learn which industries are targeted the most by financial scammers...
Scam risk is surging day by day in every industry. The rise is evident at the global level; hence, robust policies and strategies are a need of the moment to prevent such scams. Initiatives have to be taken from a global perspective, so policy makers alongside organizations must come together to plan better ways to identify possible scam tactics.
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