In 2017, a staggering 1 in 9 online accounts created was fraudulent. This startling statistic highlights the increasing prevalence of online account fraud and its potential impact on individuals and businesses alike. But what exactly is online account fraud and how can you protect yourself from falling victim to it?
Online account fraud is the unauthorized use of a persons financial or personal information to gain access to their online accounts. This can include hacking into email or social media accounts, stealing credit card information, or using someones identity to open new accounts.
Online account fraud can occur through various means, including phishing emails, malware downloads, data breaches, or stolen physical documents. Fraudsters use this information to impersonate individuals online and access their accounts without their knowledge.
The implications of online account fraud can be devastating, leading to financial loss, identity theft, and damage to ones reputation. Victims may also experience emotional distress and face challenges in recovering their stolen funds or restoring their online accounts.
How can I protect my online accounts from fraud?
What should I do if I suspect online account fraud?
Are there any tools or services that can help prevent online account fraud?
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1 out of 9 online accounts created in 2017 was fraudulent