Suspected digital frauds originating from the Philippines declined overall in the second quarter of the year, a private quarterly fraud analysis showed.
SUSPECTED digital frauds originating from the Philippines declined overall in the second quarter of the year, a private quarterly fraud analysis showed.
Broken down, TransUnion said the largest suspected fraud declines from Philippine-based transactions were seen in gaming, which declined by 53 percent and financial services with a 16 percent decline. The drop in the rate of suspected digital fraud in the country was parallel to the decline in global digital fraud in the same period.WHILE suspected digital fraud saw an overall decrease in the country, the report said suspected fraudsters have “honed in” on specific sectors.
The telecommunications industry posted the second largest increase in the rate of suspected digital fraud coming from the Philippines at 45 percent, while gambling placed third with a 32 percent uptick.
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