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Below are some of the findings from the Media section of the report which I believe may be of interest:
ThreatMetrix H2 2018 Cybercrime Report shows an evolution in attack vectors used by fraudsters and an increase in mobile attacks within financial services
ThreatMetrix® Digital Identity Network® records 3 billion bot attacks in the second half of 2018
SAN JOSE – March 5, 2019 - ThreatMetrix®, a LexisNexis® Risk Solutions Company, today released its H2 2018 Cybercrime Report. Among the insights in the biannual report on global cybercrime is the shift toward cross-organizational fraud, as well as a change in fraudsters’ tactics toward attacks on mobile. This latter trend is particularly prevalent in financial services, where attacks on mobile account logins have risen 107 percent in just six months.
The report is based on 17 billion digital transactions on the ThreatMetrix® Digital Identity Network® during the second half of 2018, with 61 percent of digital transactions originating from a mobile device.
Key Findings from the ThreatMetrix® H2 2018 Cybercrime Report
Financial services: A rise in mobile risk
Customers are increasingly opting to bank online and there is a preference for full-service mobile banking apps over desktop sessions in many regions. As a result, financial services organizations must continue to ensure that integrated and low-friction digital authentication capabilities form an inextricable part of the customer experience. This way, the sector will be able to align security with the online experience customers expect.
E-commerce: The target for global bot attacks
One of the key challenges for e-commerce merchants, particularly during busy holiday shopping days such as Black Friday and Cyber Monday, is balancing optimized customer experience and low-friction authentication, while also maintaining effective fraud control. At times, this might mean accepting a higher percentage of fraud to accept more genuine orders from good customers.
Media: Lower barriers lead to account creation attacks
The media industry, which includes social networks, content streaming, gaming and gambling, still sees the highest penetration of new account creation attacks of all industries. Approximately one in every six new media account creation transactions were found to be fraudulent. This is in part due to low barriers of account access and creation and less-stringent security measures, which means that media accounts have become prime targets for testing identities. Media companies must remain vigilant against fraudulent attacks to ensure that they do not jeopardize customer trust.
“With each Cybercrime Report that we develop, we gain important new insights into global transaction and attack patterns and the ever-growing, networked footprint of cybercrime,” said Thomas C. Brown, senior vice president, U.S. commercial markets and global market development, LexisNexis Risk Solutions. “Businesses that can harness the power of a global digital identity network that provides near real-time intelligence into the trustworthiness of an online user have a leg up on the competition. A layered defense of fraud, identity and authentication capabilities, including both digital and physical data, across the entire customer journey, is crucial to preventing fraudsters from succeeding.”
Download the full report and an accompanying infographic or simply view them below.
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