Intelligent CISO Issue 25 | Page 19

cyber trends Fraudsters have noticed an increased demand of the completely virtual merchandise that is easy to monetise. Michael Reitblat, CEO and Co-founder of Forter appearing, in particular an increase in purchases of inbound international travel to China in the weeks before the country closed down inbound travel on March 26. Data in March points to ‘optimistic travel’ in which the travel date is 120 or more days following booking. Such bookings now account for 65% of travel purchases. • The food and beverage industry has seen a dramatic increase in online purchases. New accounts now represent 15–25% of all customer volume, compared to 5–7% prior to the pandemic. As merchants struggle to manage the increased volume and meet expectations of new customers, we are seeing an increase in service chargebacks. Fraudsters are exploiting confusion and uncertainty caused by government and corporate policies: • As people adjust to working from home, Forter sees a marked www.intelligentciso.com | Issue 25 19