ThreatMetrix®, a LexisNexis® Risk Solutions Company, today released new cybercrime insights from the first half of 2018, revealing a sharp rise in fraud attack levels on mobile transactions. As consumers increasingly embrace mobile for virtually all online goods and services, fraudsters are starting to close the gap on this channel.
These latest findings are based on the analysis of 17.6 billion digital transactions on the ThreatMetrix® Digital Identity Network® during the first half of 2018.
- 58% of digital transactions now originate from mobile devices
- Mobile attacks are increasing, with one-third of all fraud now targeting this channel
- The United States saw a pronounced rise in mobile attack rates at 44% year-over-year, compared to 24% globally
- 85% of transactions on social networks and dating sites now come from mobile devices, where identity spoofing is rife
- Bots are booming: 1H 2018 registered a total of 2.6 billion bot attacks, with a 60% step up from Q1 to Q2 2018
Mobile is quickly becoming the predominant way people access online goods and services, and as a result organizations need to anticipate that the barrage of mobile attacks will only increase. The good news is that as mobile usage continues to increase, so too does overall customer recognition rates, as mobile apps offer a wealth of techniques to authenticate returning customers with a very high degree of accuracy. The key point of vulnerability, however, is at the app registration and account creation stage. To verify users at this crucial point, organizations need to tap into global intelligence that assesses true digital identity, compiled from the multiple channels that their customers transact on.