Top 3 Public Sector Fraud Trends to Watch in 2022
Top 3 Public Sector Fraud Trends to Watch in 2022
How the shifting fraud landscape is impacting federal, state and local governments
Where are fraudsters focusing their attention this year?
Historically, banks have been a guaranteed target, but more and more – especially since the pandemic caused a scramble to digitalize services that had always been in-person – they’re eyeing government agencies and the funds they allocate to those who need them.
Unfortunately, agencies have faced a significant challenge with legacy systems, while trying to secure operations without incurring significant risk. As you can imagine, the speed by which they needed to address this has created the perfect storm for significant pandemic-related fraud.
Specifically:
- 2.8 MILLION fraud reports made in 2021
- $5.9 BILLION total fraud losses in 2021
- $100 BILLION stolen OR in fraud from COVID-19 relief programs
- Nearly $1.2 BILLION seized from Unemployment Insurance and Small Business Administration (SBA) loan fraud alone
Insights and Resources
Why are some states handling unemployment fraud better than others during COVID-19?
On-Demand Identity Management Webinar
Three Trends in Fraudulent Identity Transactions and How (Not) to Combat Them
LexisNexis® Risk Intelligence Network
LexisNexis® Risk Solutions Cybercrime Report
Strengthen your defense against fraud
Vetting New Businesses for Fraud in Todays Digital Environment
Vetting Businesses to Protect Against COVID-19 Fraud Scams
Five Tips for a Stronger Defense Against Identity-Based Threats
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