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Insurance is among the industries at highest risk for digital fraud

A recent report from TransUnion explores global digital fraud trends across a number of industries.

Shipping fraud saw the largest increase globally from 2020-2021 (780.5%), followed by business identity theft (113.8%) and identity mining/phishing (104.8%). (Credit: BravissimoS/Shutterstock) Shipping fraud saw the largest increase globally from 2020-2021 (780.5%), followed by business identity theft (113.8%) and identity mining/phishing (104.8%). (Credit: BravissimoS/Shutterstock)

While instances of global digital insurance fraud shrank slightly (2.2%) from 2020 to 2021, it increased by 11.1% in the United States, says the 2022 Global Digital Fraud Trends Report from TransUnion. The slight dip in global digital insurance fraud in that time period doesn’t mean much, though, as these instances increased 54.3% overall between 2019 and 2021.

Across all industries, TransUnion found insurance saw the fifth-highest numbers for digital fraud attempts from 2020-2021, only being surpassed by the gaming, travel and leisure, telecommunications and financial services industries.

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Brittney Meredith-Miller

Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected]

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