Cybercrime goes up nearly 100% since 2015

Wednesday 16 August 2017 00:47 CET | News

A report released by ThreatMetrix has revealed that cybercrime has gone up nearly 100% since 2015 given the rise of new account origination fraud, which has increased 30% since Q1 2016.

The rise in fake accounts is seen most dramatically amongst media companies, which have met a 527% increase in new account origination attacks. The diverse and dramatic rise of digital media sites and apps is leading them to become a prime target, with 28 million attacks detected in Q2. South America is a global hub for new account origination attacks that target global media companies, with more than 45% of all new account origination attacks coming from Brazil.

Stolen identity data is being used in the wild to perpetrate attacks, as 82% of stolen credentials on the Darknet have been seen on the ThreatMetrix Digital Identity Network, showing the downstream impact of data breaches.

Ecommerce login transactions continue to be attacked more heavily than other industries, with 88 million attacks in the ecommerce industry in Q1 2016, which marks a 41% year-on-year increase. The proportion of mobile ecommerce transactions has grown nearly 40% year-on-year and nearly 20% just since Q1 2016. At present, 47% of transactions now come from mobile devices, with 55% involving new account creations. Europe remains the most mobile region, with 53% of all transactions coming from mobile.

The Q2 2017 Cybercrime Report is based on cybercrime attacks from April to June 2017 that were detected by the ThreatMetrix Digital Identity Network.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: cybercrime, web fraud, account origination fraud, ecommerce, identity theft, mobile transactions, ThreatMetrix, report
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

Industry Events