What is the number one type of online fraud?

Identity theftis themost common type of online fraud, affecting millions of people worldwide each

year. Cybercriminals stealpersonal and financial informationto:

Openfraudulent bank accounts.

Makeunauthorized transactionsusing stolen credit card details.

Conductloan fraudor apply for government benefits.

Common methods used for identity theft include:

Phishing attacks(fraudulent emails and fake websites).

Data breaches(hacking into databases to steal personal records).

Social engineering(manipulating people into revealing sensitive data).

Reference:McAfee Institute CCII Cyber Fraud Investigations, Cybercrime Encyclopedia.