/Hackers Make New Target as Consumers Shift to Online Banking

Hackers Make New Target as Consumers Shift to Online Banking

Cybercriminals are homing in on the financial services industry as more consumers shifted to digital transactions during the pandemic.

The percent of suspected digital fraud attempts across U.S. industries rose 25% during the first four months of 2021 when compared to the last four months of 2020, according to research from credit company TransUnion. In the U.S., attempts against the financial service sector jumped 109%.

The financial services sector saw the largest increase in fraud attempts globally at roughly 150%, the survey showed. The next highest sector, travel and leisure, saw a 25% increase.

About 40% of consumers with digital accounts said they were relying more on digital transactions since the pandemic as of September, making it a strong target for hackers.

Keep reading at Fox Business.