According to a report released by US provider of online fraud prevention technology iovation, the number of fraudulent transactions originating from Europe has grown substantially throughout the past two years.
The same source unveils that although cybercriminals are everywhere, the countries within Europe with most “denied transactions” as compared to all of the transactions from a particular country include Romania, Lithuania and Croatia. The type of fraud being uncovered includes e-commerce fraud such as the use of stolen credentials or card-not-present (CNP) fraud, financial fraud and bonus abuse on gambling sites and a series of online scams and solicitations being detected in social networks and dating websites.
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