In today’s digital economy, almost anyone can become a victim of financial fraud. The COVID19 pandemic has led to the rise of an increasing number of cyber-crime and identity theft in the digital marketplace.
The unemployment rate has increased and this has adversely affected the financial and social status of many people causing them to develop a sense of despondency, frustration and desperation.
To prevent these scams from occurring, dark web scanning is becoming a popular tactic by many companies and darknet markets are monitored for the vendors that sell scam products. If they find a fraudulent seller, they can simply remove them from their platform before any potential consumers lose their money.
As people search for ways to make ends meet, more people turn to illegal activities like online fraud. COVID19 pandemic has increased crime rates and this is likely to continue as long as the pandemic remains uncontrolled.
Impact on financial infrastructure
COVID19 has had a significant impact on our monetary infrastructure. The number of COVID19 infections is increasing at an alarming rate and more people in the core demographic continue to remain unemployed.
The result of a significant number of unemployed people in the core demographic has led to civil unrest and an increase in crime rates.
Common Types of Frauds
To prevent these scams from occurring, consumers need to understand how they work and know what steps they can take to protect themselves. Here are some common…
