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US: highest fraud records registered at 3 AM and during the weekdays

Thursday 29 October 2015 13:04 CET | News

3 AM is the busiest time of day for fraud and cybercriminals are more likely to transact during the weekdays, a recent study shows.

According to a recent report commissioned by Sift Science, Alaska has the highest fraud rate based on billing address while Delaware has the highest fraud rate based on shipping address. The Midwest has the lowest rate of fraud based on both shipping and billing addresses. However, Massachusetts has the overall lowest rate of fraud.

In the US, men are slightly more likely to be fraudsters than women. Also, users identifying themselves in the 85-90 age range are two-and-a-half times more likely to be fraudsters than the average user. A user with two to four accounts linked to one device is eight times more likely to be fraudulent.

Findings indicate that purchases worth USD 0-25 are twice as likely to be fraudulent, suggesting criminals test stolen credits cards for validity, trying low-value orders. Accounts less than three days old are three times more likely to be fraudulent, while accounts that are two months old are two times more likely to be fraudulent.


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Keywords: fraud prevention, web fraud, digital identity, online security, risk management, cybercrime, cyber security
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions