Nairobi — The latest study by TransUnion, an information and insights company, has revealed that 72 percent of consumers reported being targeted by digital fraud schemes but avoided falling victim during the second quarter period of the year.
The Consumer Pulse study, however, showed that 8 percent of consumers targeted by the digital fraud schemes fell victim and got conned.
Morris Maina, CEO of TransUnion Kenya, stated that vhishing cases where fraudsters con people over the phone by enticing them to reveal sensitive information increased to 45 percent in the second quarter of the year, compared to 40 percent reported during the same period last year.
Vhishing, a social engineering attack that uses fake mobile text messages to trick people into downloading malware, sharing sensitive information, or sending money to cybercriminals, also jumped to 44 percent in the period under review compared to 40 percent recorded in the second quarter period of 2023.
"Digital fraud remains a significant concern. In Q2 2024, 72% of consumers reported being targeted by digital fraud schemes but avoided falling victim, and 8% reported being targeted and claimed they fell victim," said Maina CEO TransUnion Kenya.
He noted that phishing, a scam where attackers deceive people into revealing sensitive information or installing malware such as viruses, worms, adware, or ransomware, also increased to 36 percent from 33 percent recorded last year during the same period under review.
The study revealed that despite high awareness of digital fraud schemes, scam cases continue to be on the rise.
"Consumer concern about sharing personal information remained significant at 91 percent, albeit down from 94 percent in Q2 2023. Concerns related to sharing personal information included invasion of privacy (81%) and fear of identity theft (67%), emphasizing the necessity for robust security measures and consumer education to uphold trust in digital platforms and encourage greater use of digital services," added Maina CEO TransUnion Kenya.
