Automation: The development of automated attacks has been a major shift in early 2021, driven by two main aspects; the need to operate remotely from locations and validation of user data to be utilised in fraud attacks. Account Takeover: The growth of new digital users forced online in 2020 has increased the target population for the fraudsters. High volumes of new inexperienced digital users, provide the opportunity for accounts to be targeted and manipulated via self-service digital interaction channels. Targeted Social Engineering: 2021 has been the year of the growth of scams. Scams are social engineering attacks that are targeted and personalised against the victim. Details obtained in automated attacks and utilising credential testing to verify information gained are then used to make contact or convince the victim of the authenticity of the scam interaction. This new form of attack tries to bypass normal standard fraud controls by manipulating the customer to perform the fraud transaction. Gaining insight into such attacks requires insight into the wider aspect of the user behaviour profile and risk indicators rather than just the transaction itself. Networked Fraud: Now more than ever, due to pandemic restrictions in place, fraudsters have had to orchestrate their attacks not only across geographies but also across industries. Invest In the Right IAM Technologies - The key to justifying this expense is demonstrating the value of the right IAM platform or identity as a service (IDaaS) solution. The right platform will show a strong and quick return in areas like worker productivity, mitigation of compliance-related costs, elimination of credential-related expenses, and, of course, reducing the potential costs of breaches.

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