Furthermore, as the online transaction volume increased 36% over the previous year, APAC is facing unprecedented threats: 40% increase year-on-year in the number of daily attacks, with China revealed as the most attacked nation in the region.
The security companys survey findings also showed that cross-border transactions are fuelling high attack rates in APAC, the rates are higher than average instances of cross-border transactions compared with global figures, which are more susceptible to bot attacks and location spoofing than domestic transactions.
Also, identity attacks are having an ever-increasing impact on APAC businesses as fraudsters monetize credentials harvested from huge data breaches by testing, validating and augmenting identity data. Spikes in automated bot attacks, which are being used to carry out identity credential testing activity, are leading to attack peaks where 14% of all transactions are rejected as fraudulent.
Identity spoofing is the most prevalent attack vector in APAC - cybercriminals are actively leveraging stolen identity data to carry out attacks on digital transactions.
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