The Identity Fraud in Focus report is a quarterly update leveraging Allstate Identity Protection’s internal data and research to provide insights into the trends and threats most relevant to consumers and organizations in digital identity protection.
Small Business Administration fraud inquiries up 200%
Unemployment fraud still rising
Keeping employees safe in the age of data breaches
For the second straight quarter, Allstate Identity Protection’s Restoration Specialists saw fraud inquiries involving Small Business Administration (SBA) programs rise by more than 200%. Unemployment fraud inquiries also rose by more than 20%.
The federal government rapidly mobilized programs to deliver over $4.5 trillion to Americans affected by the COVID-19 pandemic. The quick implementation paired with the need to make funds easy to apply for created loopholes for bad actors to exploit. We continue to see those effects today.
As inflation, supply chain disruptions, and a seasonal rise in COVID-19 infections begin to converge this fall, we anticipate the aftershocks from these types of fraud will reverberate for years.
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