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Online fraud surged 85% in the UK in 2021, with gaming, streaming, social media, travel and e-commerce companies bearing the brunt, according to Arkose Labs' 2022 State of Fraud and Account Security report. The firm, which analyzed over 150 billion transaction requests across 254 countries, also identified the metaverse as a fast-growing attack surface, with metaverse-related companies seeing 60% more attacks than average. Arkose Labs also coined the term 'Master Fraudsters' to describe a new class of sophisticated, high-investment attackers increasingly targeting UK businesses.
