Visa report highlights emerging scams targeting consumers and travelers

Published On Oct 26, 2024, 9:00 AM

Visa's latest 'State of Scams: Fall 2024 Biannual Threats Report' reveals an increasing trend in scams targeting consumers, especially travelers. It highlights the rise of digital pickpocketing through mobile point-of-sale devices, physical theft linked to stolen payment information, and phishing scams bypassing two-factor authentication. The report indicates that scammers are exploiting busy travel seasons with fraudulent websites resembling those of major airlines, as well as impersonating airline staff. Visa emphasizes consumer vigilance and suggests enabling real-time purchase alerts and two-factor authentication to combat these threats.

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The increase in scams may lead to heightened demand for robust payment security solutions, positively impacting companies in cybersecurity and digital payment fraud prevention. As consumers and businesses seek to enhance their security measures, this could potentially fuel growth in these sectors.

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