Victor Fredung Warns Businesses about the Rising Cybercrimes During Halloween

Halloween is one of the most awaited festivals throughout the year. While people plan different theme parties, fraudsters plan their malicious activities to ruin the exhilarating night of the year. Introduction and advancements in technology have brought ease for fraudsters too. 

Cyberattacks significantly increase every year, especially around Halloween. Everybody is in disguise and so are fraudsters and technology is allowing them to fulfil their malicious intent in a more sophisticated manner. There is a cyberattack every three seconds and 90 per cent of the target are small businesses as of 2019 reports. 

Considering the rise in cyberattacks during festivals, the CEO of Shufti, Victor Fredung, has warned businesses, especially e-commerce platforms, to perform robust verification checks before completing any transaction. All the financial institutions must beware of the spoof attacks this Halloween. 

Victor says,

“Halloween is approaching and among other things like haunted houses, goblins, or ghosts, cybercrimes during Halloween are the scariest of all. The cyberattacks across the world will account for $6 trillion, according to a report from cybersecurity ventures. For preventing frauds in online businesses, companies must not fall short for customer compliance. Online businesses must add Know Your Customer document verification with OCR for effectively preventing fraud.”

Beware of the spooky online scams this Halloween and verify every customer that you onboard. 

For more information about Halloween scams: Halloween and the Spooky Scams – How identity verification helps?