Two fifths of UAE consumers experience online fraud attempts

Two fifths of consumers in the UAE have experienced an online fraud attempt, of which, half would contact law enforcements if it is successful.

The most common type of fraud was phishing, with 27% of consumers experiencing this, according to a new survey from Visa, Dubai Police and Dubai Economy. The Other common instances of fraud were credit card fraud and receiving counterfeit goods.

In the event of fraud, 72% said they would change their password and PIN, 67% would inform the bank, 58% would contact customer service and 50% would inform law enforcement.

Despite the frequency of online threats, 64% of consumers have a high-level of confidence in digital payments.

The survey, which got the responses of more than 600 consumers, also found that the pandemic heavily impacted cash payments. It claims there was a 75% drop in consumers using cash payments, but a 98% increase in digital payments.

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