TransUnion urges banks to tighten fraud loopholes

TransUnion’s quarterly analysis of global online fraud trends found that the telecommunications, e-commerce and financial services industries have been increasingly targeted by online fraud.

Kabelo Ramaselwana, chief executive officer of TransUnion Botswana said the number of suspected fraudulent digital transactions increased by five percent between January to March and March to April. Botswana did not report any cases however, as the credit bureau noted that most transactions in the banking sector were still done manually.